Archive for category Service Tax Updates

Taxation of Services Based on Negative List of Services

Click Here For Conpept Paper

Train travel, passport fee, capitation fee may come under service tax net

 

 Travel by train, passport fee, capitation fees to education institutions and non-compete fees given by companies may come under tax net as the government considers a ‘negative list’ model to tax services, which will boost its tax revenues significantly.

Read the rest of this entry »

No Comments

Service tax evaders to lose assets: Finance ministry

 Wednesday, 17 August 2011

 Alarmed by a possible large-scale evasion of service tax, the finance ministry has decided to use the toughest measure in its bouquet of options – seizing property of assesses not filing returns -to ensure compliance with the law.

Out of 15 lakh registered service tax assesses only about six lakh are filing returns, suggesting a large-scale evasion of service tax.

  Read the rest of this entry »

No Comments

19 services may be kept out of tax net

 

 The Centre has short-listed about 19 services, including interest paid on deposits by banks, dividend paid by companies on shares, transport of passengers in public transport, and funeral and burial agencies, which will be exempt from paying tax.

Read the rest of this entry »

No Comments

SC stays Delhi High Court order on taxing of rent

 12 January 2011

NEW DELHI: The Supreme Court has stayed an order of the Delhi High Court, which stopped the Centre from recovering service tax on renting of immovable property for commercial use, including shops and malls, from some firms.

Read the rest of this entry »

No Comments

Service tax exemption on retail sale of packaged computer software

Monday, 27 December 2010

 NEW DELHI: The finance ministry has exempted service tax on retail sale of packaged computer software to address the problem of double taxation on it.

The move comes as relief to the country’s `10,000-crore software retail industry and the customers who will now have to pay less for software such as Microsoft , SAP, Oracle, Norton antivirus and Adobe.

Read the rest of this entry »

No Comments

New service export rules – It’s less taxing

 15th March 2010

 The concept of export has evolved over time. In relation to goods, the principles governing export have settled and, therefore, the process of determination of whether a transaction in goods is export or not is reasonably clear.

  Read the rest of this entry »

No Comments