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Accounting and Auditing in India – The past, present and future
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As It Was, Is and May Be
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VAT/GST: A frightening but fascinating future-world…!
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Legal Considerations for Start-Ups – Are you overlooking some?
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ATR & AQMM – Audit Reports of Auditors!
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भारत पहले – 75 Year of Independence
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President and CEO of The Institute of Internal Auditors
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A voluntary organisation established on 6th July 1949, BCAS has presently more than 9,000 members from all over the country. BCAS is a principle-centered and learning-oriented organisation promoting quality service and excellence in the profession of Chartered Accountancy.
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June 2015

Definition of Chit Find removed Notification No. 13/2015-Service taxdated 19-05-2015

By Tarun Ghia, Pratik Mehta, Brijesh Cholera Chartered Accountants

Reading Time 1 mins

The Central Govt. had withdrawn abatement in relation to Chit Fund vide Notification No. 8/2015 dated 1st March, 2015 & thereby made consideration received by Chit Fund fully taxable w.e.f. 01 04 2015. Now by this Notification, the Central Govt. has completely removed the definition given in the Principal Abatement Notification No. 26/2012 dated 20th June, 2012.

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June 2015

Definition of Chit Find removed Notification No. 13/2015-Service taxdated 19-05-2015

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Service tax rate of 14% applicable from 01-06- 2015 Notification No. 14/2015 – Service Tax- dated 19-05-2015

Certain specified services exempted Notification No. 12/2015-Service tax-dated 30 04 2015

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June 2015

Definition of Chit Find removed Notification No. 13/2015-Service taxdated 19-05-2015

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Service tax rate of 14% applicable from 01-06- 2015 Notification No. 14/2015 – Service Tax- dated 19-05-2015

Certain specified services exempted Notification No. 12/2015-Service tax-dated 30 04 2015