The Finance Ministry on Tuesday 1st March, 2016, issued an 11-point clarification on the changes made in the Budget 2016-17 on tax treatment for provident fund and NPS (National Pension Scheme). "There seems to be some amount of lack of understanding about the changes made in the General Budget 2016-17 in the tax treatment for recognised Provident Fund & NPS," the Finance Ministry said in a statement. The detailed press release is given below.
No Service tax on free Pick-up or Home delivery of food as it is being in the nature of "Sales" – Chandigarh Commissionerate.This has been clarified by the Chandigarh Commissionerate vide its letter C.No. ST-20/STD/Misc./Sevottam/62/12/4693 dated August 13, 2015 (“the Clarification”). The copy of the said letter is given below.
Punjab Excise & Taxation Department has issued public notice dated 03.02.2015 clarifying that the hike in the rate of VAT on iron and steel has only been announced. It will come into effect only once it is duly notified. Further, no change in rate of VAT on any other item has been announced or notified. The said public notice is enclosed below.
Reference to Notification No. S.O.17/P.A8/2014 dated 21st February, 2014
In light of the above notification we are receiving queries from various dealers and lawyers. In response to this, following clarifications are being issued:
TDS not to be Deducted on Service Tax Component shown Separately
Whether to deduct TDS on Service Tax Amount? This question had always put deductor in difficulty. The question always comes that whether TDS is to be deducted on the entire amount of the invoice i.e. including service tax or only on the payment made towards services i.e. excluding service tax.
CBEC has issued Circular No.173/8/2013 – ST clarifying certain doubts regarding Service Tax on Restaurant service. The said Circular No.173/8/2013 – ST is reproduced below.
tax 'N' accounts people
Tarun Kumar Gupta
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