short notes on service tax


Service Charges are Discretionary and Voluntary

Service Charges are Discretionary Voluntary Ministry of Consumer Affairs Food and Public Distribution The Ministry of Consumer Affairs Food and Public Distribution has issued advisory to all the State Governments UTs to sensitise the companies hotels and restaurants in the state regarding the releva

GST is expected to have positive effect on trade and consumers

Goods and Service Tax GST Bill The 122nd Constitution Amendment Bill 2014 has been passed by the Parliament and after ratification by fifty percent of the States the same has been enacted as 101st Constitution Amendment Act 2016 No Goods and Service Tax GST Bill has so far been passed The Central Go

Direct and indirect tax Collections shows a growth of 10.07% and 22.2% respectively upto Feb 2017

Net Indirect Tax collection upto February 2017 stood at Rs 7 72 lakh crore 22 2 more than the corresponding period last year Net Direct Tax collectionsupto February 2017 stood at Rs 6 17 lakh crore 10 7 more than the corresponding period last year Indirect Taxes The figures for indirect tax collecti

17.92 Lakh persons tax profiles does not match with cash deposits

Operation Clean Money Income Tax Department identifies 17 92 Lakh persons whose tax profiles were not in line with the cash deposits made by them during the demonetization period Income Tax Department ITD has initiated Operation Clean Money on 31st January 2017 to leverage technology and data analyt

Govt withdraws Service tax exemption for educational institute

TO BE PUBLISHED IN THE GAZETTE OF INDIA EXTRAORDINARY PART II SECTION 3 SUB SECTION i GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE NOTIFICATION No 10 2017 Service Tax New Delhi the 8th March 2017 GSR E In exercise of the powers conferred by sub section 1 of section 93 of the Finance

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Experts Opinions

What is the procedure for tax consultant certificate

Dear sir I completed Mcom from open university in the year 2009 without B com but did entrance test for attend the M com exams from the university I have above 9 year experience in accounts statutory filing etc 2 years in auditors firm presently working in export pvt ltd company as accounts officer

Capital gain tax and gift

Dear Experts Need your suggestion Mom wants to sell her house property to daughter but to avoid the capital gain tax on sale they are making an arrangement to prepare two gift deeds Long term capital asset One mom will gift house property to daughter and other one is daughter will gift money conside

Part payment of service tax for f.y. 2016-17

Hii my query is quite confusing We raised invoice for all recruits as per deposits we received in our bank account but while paying service tax we paid less and reduced the candidates how do adjust the amounts that are in our bank account and show under which head to avoid payment of service tax

Last date of filing income tax return ay 2016-17

What is the last date of filing income tax return for AY 2016 17 It it 31 3 2017 or 31 03 2018

Tax on insurance claim

Dear All One of my friend was working in Merchant Navy and he had some accident during the job The Insurance co gave him claim of Rs 65 Lacs Please suggest is it taxable or not and if it is taxable so under which head and section we need to show this


Be a smart tax payer

DO YOU KNOW SmartWaysToSAVETAX For Salaried Individuals 1 Investin80CsectiondeductionsschemesgetbenefituptoRs 150 000 2 AvailadditionalbenefituptoRs 50 000 u s80CCDi e DepositinNPS 3 MedicineBillsDoctorFeesinvoiceswillsavetaxupto onRs 15 000 4 SavingBankInterestisexemptuptoRs 10 000 5 Docharityandsa

Plan your tax before its too late

Need help with business taxes

Need serious help with business taxes I have a business in which I have been taking payments from outside countries Initially I was taking payments in Business bank account using PayPal One fine day PayPal closed my business account and than I started taking it in personal account of my cousin As so

Tax on lucky draw winnings

One of my client won a phone in a Lucky Draw contest The company asked for a payment of a certain amount so as to deposit it in the form of TDS It is now shown in his 26AS Statement While filing his return how would i have to show it and is that TDS Deposited eligible for refund

Job under indian co but posting in foreign co-taxability ??

Hello everyone one of my client was working under a indian company in india but during 2014 15 he was posted in europe more than 182day outside india My question will salary received from indian co will be taxable eventhough he was NRI and posted outside india

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Cash credits and its treatment under income tax act, 1961

CASH CREDITS UNDER INCOME TAX ACT 1961 Section 68 of the Income Tax Act 1961 provides that there has to be credit of amounts in the books maintained by the assessee that such credit has to be of a sum during the previous year and that the assessee offers no explanation about the nature and source of

Whether Income Tax Act is discriminatory to the salaried class?

There are various types of individual assessee i e 1 Salaried 2 Professionals specified 3 Professional others 4 Proprietors who owns business of trading or manufacturing 5 Proprietors in some specified businesses 6 Others The tax slabs rate of tax and deductions are almost same for each one class of

Impact of GST on Service and IT Sector

As per current Service Tax rules all the IT services are taxed 15 Service Tax Swachh Bharat Cess and Krishi Kalyan Cess and Under GST the tax rate may come as 18 as per the expert So it may lead to increase in tax portion under GST The registration limit has been increased from the current 10 lakhs

The Tax Planning - 4 Great Ways to reduce your Tax burden substantially!

Introduction Tax planning is an art of reducing the tax burden legally People generally understand tax planning as an illicit tax measure to reduce tax burden However this is not the case Reducing tax illegally is known as tax avoidance An ethical tax planning is an art or professional knowledge to

CA IPCE Amendments in Indirect Taxation

Basic Concepts of Indirect Taxes UNIT 2 Central Excise Duty 1 Excise duty of 1 without CENVAT credit or 12 5 with CENVAT credit has been levied on articles of jewellery excluding silver jewellery A jewellery manufacturer will be eligible for exemption from excise duty on first clearances upto Rs 10

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Updated on : 3/19/2017 5:01:10 PM

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