Service Tax On Crushing Of Minerals Under Service Tax
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- Service Tax On Crushing Of Minerals Under Service Tax
Under Section 66D of the Finance Act 1994, a negative list of services is set out, which are considered to exempt from service tax. Any service provided that does not come under the purview of this list is liable to be levied with service tax. Service Tax Exemptions apply to the following services outlined under the negative list:
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absence of any mechanism to levy service tax on the amount that has the aspect of both regulatory fees and compensatory fees under the Finance Act 1994 (Finance Act), service tax cannot be levied, as royalty has a dominant element of regulatory fees. Facts of the case • M/s. Oil and Natural Gas Corporation (the appellant) is engaged in the
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Registration is an identification of an assessee. Identification is necessary to deposit service tax, file returns and undertake various processes ordained by law relating to service tax. As per Sec. 65(7) of the Finance Act, 1994 assessee means a person liable to pay service tax and includes his agent.
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The mining industry is of the view that 'Royalty' is a tax and therefore further tax cannot be levied on tax. However the department is of the view that Royalty is a …
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Taxability of Royalty payable to State Government on extraction of natural resource. Prior to 1 st April, 2016, "Support services" provided by Government or Local Authority to Business Entities were taxable, as it was specifically excluded from the negative list. [Section 66D(a)(iv)] [Section 66D(a)(iv)]. "Support Service" had been defined under …
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As large amounts are being paid as royalty towards mining rights, the tax exposure under service tax and GST are on a higher side and reeling the industry players. In this …
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As large amounts are being paid as royalty towards mining rights, the tax exposure under service tax and GST are on a higher side and reeling the industry players. In this backdrop, an attempt is made to …
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It was only with effect from 16.08.2002 that a person receiving taxable service in India from abroad (where the non resident service provider did not have any office in India) became liable to pay service tax on such service vide Notification No. 12/2002-ST, dated 1.8.2002 which amended Rule 2(1)(d) of Service Tax Rules, 1994 …
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Federation of Indian Mineral Industries, examines the application of the service tax this sector. The report also suggests ways of alleviating the negative impact of service tax …
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• Service tax return has to be submitted not later than the last day of the following month after the taxable period ended. • Service tax return has to be submitted regardless of whether there is any tax to be paid or not. • Service tax return has to be submitted electronically or by post to SST Processing Centre. 20.
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Dead rent is calculated on the basis of the area leased while royalty is calculated on the quantity of minerals extracted or removed. So, it is determined in a way that while dead rent is a fixed return to the lessor, royalty is a return which varies with the quantity of minerals extracted and it is because of this reason that section 9A of the …
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Notification No. 12/2012-ST, DATED 17-3-2012 G.S.R. 210 (E).-In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Finance Act), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the following …
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Service tax has been imposed on Mining Services i.e., services outsourced for mining of minerals, oil or gas by the Finance Act, 2007 as a separate taxable service with effect from a 1st June, 2007 vide Notification No. 23/2007-ST dated 22.05.2007. The gross amount charged by or gross consideration received by any person being service …
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Union of India SLP(Civil) No. 37326 of 2017 vide Order dated 11.01.2018 wherein stay has been granted of payment of service tax on mining royalty until further orders and similarly in various ...
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In re Singareni Collieries Company Limited (GST AAR Telangana). Q1.Whether royalty paid in respect of Mining Lease can be classified under "Licensing services for the right to use minerals including its exploration and evaluation falling under the heading 9973 attracting GST at the same rate of tax as applicable on supply of like …
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The service of allowing the extraction of minerals, provided by the government to a business entity for which certain amount is paid as royalty to the state government, will be treated as a taxable supply and GST needs to be paid on the same under reverse charge mechanism by the business entity as a service recipient at the …
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1. The royalty paid in respect of Mining Lease is a part of the consideration payable for the Licensing services for right to use minerals including exploration and evaluation falling under the Head 9973 which is taxable at the rate applicable . Please become a Premium member. If you are already a Premium member, login here to …
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Ranjan Mehta & Komal Suthar – [2021] 132 taxmann 254 (Article) Earlier, under the Service Tax Regime when Negative list-based taxation was introduced, only select services provided by the Government were out of Service Tax purview via Negative list and the rest were covered under Service Tax.
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Ideally Service tax is now payable on all services rendered in the taxable territory except the services as mentioned in the negative list and those granted exemption from the levy of Service tax. The essence of Service tax is that a service should be taxed in the jurisdiction of its consumption. The new charging section, Section 66B of the ...
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Till 01.04.16 only support services provided by the Government were taxable under service tax but with effect from 01-04-16 all the services provided by the Government including the assignment of right to use minerals were brought to service tax under RCM basis except service tax on renting of immovable property. And the …
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Job work or outsourced manufacturing services are taxable under GST. The GST rate for job work is linked to SAC code or Services Accounting Code, a services classification system developed by the Service Tax Department for levy of service tax. In this article, we look at the job work and outsourced manufacturing services under …
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The quality of the local ordinances related to mineral extraction can vary among LUGs. Likewise, the quality of the review by local officials can also differ. ... In determining under this section whether very serious consequences would result from the extraction, by mining, of natural resources, the standards set forth in Silva v Ada …
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Activity of crushing big stones into smaller pieces amounts to 'manufacture'; no service tax applicable: CESTAT. ST : Activities involving quarrying of …
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GST Rates in India 2024 - Explore updated GST rates for the list of products under various slabs of 0%, 5%, 12%, 18% & 28%. Find item-specific GST rates for food, clothes, gadgets, and more at Cleartax.
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Ratan Black Stone Vs Union of India (Jharkhand High Court) Learned counsel for the Respondents submits that earlier, this Court have been pleased to grant stay of recovery of service tax for grant of mining lease / royalty from the petitioners covered under the interim order dated 02.03.2021 passed in the batch of writ petitions …
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Services which are not treated as “export of services†under any situation. Payment of Service Tax if there is no export realization. One of the essential condition to treat a service as “Export†is that payment should be realized in foreign exchange. Hence, if payment is not received within time prescribed by RBI (12 months ...
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Self-adjustment of service tax is permissible if service tax has been paid in advance under rule 6 (1A) and 6(4A) of Service tax Rules. Procedure to claim refund. Application has to be made in the prescribed form (Form – R). Application has to be filed in triplicate with the jurisdictional Assistant/Deputy Commissioner of Central Excise ...
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under service tax regime; under earlier regime, service tax is not levied in case of royalty in my view. ... Reason being output tax on coal or other minerals is 5% whereas most of the input tax credit is of rate 18% which gives rise to inverted duty structure and the amount is huge. The GST council should look after such huge …
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What tax advantages, tax credits and incentives are available to private parties carrying on exploration and mining activities? Special deductions under Income Tax Act 1961 are allowed for the ...
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Many taxpayers have not paid the service tax on mining royalty under reverse charge as there are perennial issues to be resolved to levy the service tax even …
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As per the provision in the notification the service tax under reverse charge on supply of manpower for any purpose or security service was paid partially by the service provider and service receiver in the ratio of …
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A5. The New Clean Vehicle Credit is claimed in the tax year that the vehicle is placed in service, meaning the tax year that includes the date the taxpayer takes delivery of the vehicle. See also Topic C FAQ 5 and FAQ 8. Q6. What is the amount of the new clean vehicle credit? (updated March 31, 2023) A6.
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Before we discuss refund under service tax first we should know that as per Section 83 of the Finance Act provisions of various sections of Central Excise Act 1944 are applicable in relation to service tax as they are apply in realtion to duty of excise.Among them two important section relevant to service tax refund are Section …
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