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INTERVIEW QUESTIONS
TAX
SERVICE TAX
DETAILS
Question: A Developer may not have export turnover; therefore, he cannot get refund of service tax based on the formula provided for shared services in paragraph 2(d) of the notification 17/2011: therefore, it may be explained how a Developer can claim exemption under this notification?
Answer: Generally, SEZ Developers will be using category (i) services listed in paragraph 2(a), relating to immovable property located within SEZ; upfront exemption is available for these services, and category (ii) services, irrespective of whether the Developer is standalone or not. As another option, refund route is also available. In the case of category (iii) services if Developer is standalone, upfront exemption is available. If Developer is not standalone, on service tax paid on category (iii) services, which are exclusively used for the authorised operations in SEZ, he can avail exemption through refund route.
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Service Tax Interview Questions & Answers -
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Question:
A Developer may not have export turnover; therefore, he cannot get refund of service tax based on the formula provided for shared services in paragraph 2(d) of the notification 17/2011: therefore, it may be explained how a Developer can claim exemption under this notification?
Answer:
Generally, SEZ Developers will be using category (i) services listed in paragraph 2(a), relating to immovable property located within SEZ; upfront exemption is available for these services, and category (ii) services, irrespective of whether the Developer is standalone or not. As another option, refund route is also available. In the case of category (iii) services if Developer is standalone, upfront exemption is available. If Developer is not standalone, on service tax paid on category (iii) services, which are exclusively used for the authorised operations in SEZ, he can avail exemption through refund route. Source: CoolInterview.com
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Meaning of the expression "total turnover" found in paragraph 2(d) of the notification 17/2011 is not clear: whether it refers to turnover of SEZ Unit or the entity (including DTA and SEZ Unit). This may be clarified?
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Whether Approval by UAC is necessary, to claim benefit under the Notification?
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Meaning of the expression - who does not own or carry on any business other than the operations in the SEZ? appearing in paragraph 2(a)(iii) of the notification, which creates a difference between "standalone" and "non-standalone" SEZ Unit/Developer, may be clarified?
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Is there any provision for interest for delayed payment of refunds?
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What is the "Relevant Date" for the purpose of Refund of Service Tax?
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What is the procedure for claiming Service Tax refund?
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Can any adjustment of tax liability be made by an assessee on his own, in cases when Service Tax has been paid in excess?
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What is the preservation period for service tax records and documents?
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Is the amount of Service Tax charged from the client compulsorily to be indicated separately in the Bills / Invoices / Challans raised on him?
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Is there any prescribed format for the Invoice/Bill?
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Whether issue of Invoice/Bill/Challan is mandatory for Service Tax?
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Can a Service Tax officer access an assessee's Registered Premises?
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Can the Department ask for more information than what assessee is submitting to it in the Form ST-1 and ST-3?
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Where from the Service Tax assessee can get the Forms such as ST-1, ST-3 etc?
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Are there any statutory documents prescribed by the Government such as specified invoice proforma, specified registers etc. for use by the service providers?
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Is there any penalty for non-filing or delayed filing of the Returns?
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Whether a single Service Tax Return is sufficient when an assessee provides more than one service?
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Is filing of Service Tax return compulsory even if no taxable service provided or received or no payments received during a period (a particular half year)?
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What is the procedure for Service Tax e-filing?
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