I have collected the service tax on 25-Aug-2011 but did not made the payment on 05-sep-2011. so i want to know whether penalty attracts for this.

If attracts what is the rate or amount.

whether rent recvd to a professional should be included in gross total recepts calculatd for 9000000 limit of registration...

one of our client is printing bills and stuffing the bills into envelop for bsnl for that we are charging service tax, but bsnl is saying there is no service charge applicable for us, bsnl is exempted from paying service tax

kindly assist me in this issue, whether we can charge them as excise or service tax which is applicable and also exemption details of bsnl

thanks in advance

As we know that now trading income is exempt under service tax and so, cenvat credit needs to be reversed under rule 6(3) of cenvat credit rules. I want to know whether income from securitization of loan portfolio of NBFC can be considered as income arising from trading activities. Whether loan receivables can be considered as goods under sales of goods act? Whether securitization of loan can be considered as sale under sale of goods act?

Sir

We issue contracts for supply of labour/workman for our day to day requirement.

The contractors to whome we had alloted the service to provide workman is demanding Service Tax.
Please guide us who is responsible for payment of service tax and up to what extent.
wE PAY HIM as under

Wages ( to be reimbrused to
workman by him 10000
E P F emp[loyeer share 780
service charges 500
Please guide us and also give th

Dear All,

One of my corporate client is rendering port services. It is outsourcing stevedoring/ cargo handling activities to another company. it is also given mobilisation advance to vendor and it is adjustable on some % while making payment for Stevedoring services to the vendor. Whether Service tax is applicable on mobilisation advance? if Yes,who is liable to levy service tax on such advance?. and Whether service tax(10.30%) is to be calculated on mobilisation advance(100%) or such advance is inclusive of Service tax (110.30%) and back calcualtion recuired?

Kindly clarify the same.

Dear Experts,

We are 5 yrs old company. So far we have not registered for ST on GTA eventhough we have the transaction.

Now we want apply and get the registration. Can anyone tell the problem that could arise and how to come out of that?

Thanks in advance.

1a. Assessee 'X' is the land owner and assessee 'Y' gets that plot of land developed called the land developer.Land owner Co. 'X' and Developer Co. 'Y' enters into a Joint venture agreement with a specified ratio say 70% of constructed area to developer and 30% to land owner. Is land owner assessee 'X' liable to pay service tax to developer for developing his portion of constructed area i.e., 30% on this JV agreement? If yes then, whether service tax paid by 'land owner' to 'developer' (input tax) is adjustable against service tax paid to Govt. which is collected from customers (output tax).
1b. Now, assessee 'Y' Developer Co. is also one of the 10 land owners and all land owners decide to develop the property jointly to enter into an MOU/agreement stating that Y Co. will look after all the construction work and will also arrange/invest total funds for construction & for which he will get 80% constructed area though he owns 10% land only. Similarly all other land owners will get 2% of the constructed area each though they own 10% of the land. Is service tax applicable in the above case? And whether input tax can be set off against output tax as explained in the previous case.
2. Also i want to know whether sale of car parking to the flat purchasers has been included in service tax. If yes from which date? So far as i know it was not applicable in car parking

our company is recepient of services from transporters.when will i have to get register under service tax? am i elegible for thresold exemption upto 10 lakh?

one of my client had taken service tax no. in 2007 & regularly filed return upto march'10. but, afterwords due to cancer, he was not filed any return. now he recde notice for not filing the said returns.
1)what is the implication in that case.
2)if he had a turnover below rs.8 lakh in f.y.10-11 then it is compulsory for him to file the said returns as he had taken service tax no. in 2006 & filing returns onwards that.
3)there is no need to file return in that year in which his turnover was below Rs.8 lakh or nil turnover