service tax water transport - wef ? or awaiting notification

This query is : Resolved 
 

(Querist) 24 July 2009

4 new services has been brought in the tax net
a) Transport of goods through Water :- to any person, by any other person, in relation to transport of (i) coastal goods; (ii) goods through national waterway; or (iii) goods through inland water.

Explanation.— For the purposes of this sub-clause,—

(a) “coastal goods” has the meaning assigned to it in clause (7) of section 2 of the Customs Act, 1962;

(b) “national waterway” has the meaning assigned to it in clause (h) of section 2 of the Inland Waterways Authority of India Act, 1985;

(c) “inland water” has the meaning assigned to it in clause (b) of section 2 of the Inland Vessels Act, 1917;

b)Transport of goods by rail,

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from when it is applicable...or from dt. of notification



Arbind Aggarwal (Expert) 24 July 2009

DATE OF APPLICABILITY WILL BE THE DATE OF ENACTMENT OF FINANCE BILL 2009.

THE FINANCE BILL IS PENDING IN LOK SABHA AS OF NOW AND AFTER BEING PASSED BY BOTH HOUSES OF PARLIAMENT IT WILL GO TO THE PRESIDENT OF INDIA. AFTER THE APPROVAL OF PRESIDENT IT WILL BECOME EFFECTIVE. GENERALLY IT TAKES ABOUT 30 TO 45 DAYS FROM THE DATE OF PRESENTATION OF BUDGET. WE CAN EXPECT IT BY 2ND WEEK OF AUGUST.

Shyam Lal Naik (Expert) 25 July 2009

The new services will be effected vide notification.

Shyam Lal Naik (Expert) 28 July 2009

As per the Hon'ble Finance Minister, new services will be taxable w.e.f. 01.09.09



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