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PLI scheme for electronics manufacturing sees incremental investment of Rs 8,390 CrG20 finance leaders agree to tax super-rich but forum not yet readyDPIIT promotes green logistics industry balancing economic growth and environmentIndia, US ink pact to stymie illegal trafficking of cultural propertyRailways expands tracks by 31,180 kmFroth in Yamuna river: Delhi complains to Centre against UP and HaryanaGovt to enhance reach of Indian Digital Public InfrastructureFormer BJP Minister says BJP has totally failed as Opposition in KarnatakaGovt provides incentives to small tea growersEU penalises 5 countries for infringing budget rulesI-T-Transaction involving transfer of unutilised shares cannot be deemed to be sale of shares so as to attract levy of Long Term Capital Gain u/s 112: ITATChina says Relations with Japan at critical stageST - Once the activity of appellant that is of forfeituring the amount of earnest money is not a declared service, question of retaining said money as consideration for rendering such service becomes absolutely redundant: CESTATEU medicines regulator disapproves Alzheimer’s new drugSC says no restrictions on voluntary name banners along Kanwar route eateriesFM favours debt reduction but sans affecting economic growthKargil Victory Day: PM warns Pak against practising terrorismChina pumps in subsidies worth USD 41 bn into car sectorMisc - Payments made to Government cannot be deemed to be a tax merely because statute provides for their recovery as arrears: SC CBMisc - Royalty not a tax; royalty is contractual consideration paid by mining lessee to lessor for enjoyment of mineral rights & liability to pay royalty arises out of contractual conditions of mining lease: SC CBMisc - Since power to tax mineral rights is provided for in Entry 50 of List II, Parliament cannot use its residuary powers in this subject matter: SC CBCus - Owner of goods has a liability to pay customs duty even after confiscated goods are redeemed on payment of fine - Interest follows: SC
 
Mere transfer of title in immovable property is exempted from Service Tax

In order to resolve a long standing issue relating to levy of Service Tax on sale of flats/dwellings etc. after issue of occupancy certificate but before issue of completion certificate in areas under the jurisdiction of Municipal Corporation of Greater Mumbai i.e. Brihan mumbai Municipal Corporation (BMC), it has been conveyed to the Service Tax Authorities in Mumbai on Friday, 23rd October, 2015 that sale of flats/dwellings etc., where the entire consideration is received after issue of occupancy certificate by BMC, leading to a mere transfer of title in immovable property, falls outside the definition of "Service" provided in Section 65B (44) of the Finance Act, 1994, and is therefore, not taxable.


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