can anyone come for discussion of service tax ca final now
Discussion on service tax ca final - can anyone join now?
Madhavi (CA - FINAL) (1342 Points)
17 September 2012
Rita Bansal
(Senior Audit I/c)
(98 Points)
Replied 17 September 2012
OK Madhavi Lets start the discussion.
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
nice welcome.
Let us first dicuss basics of service tax
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
1. there is no separate legislation for the purpose of ST. The provisions are laid down in sec 64 to 96 of Finance Act, 1994
2. ST provisions extend to whole of India except hte state of Jammu and Kashmir. Hence the services provided within Jammu and Kashmir are excluded from the levy of ST
3. The person providing service has to pay ST
4. ST is payable on gross amount charged by the service provider
5. Reimbursement of out of pocket expenses will now be included in teh valuation of taxable service unless otherwise provided
there are some other provisions whcih we read in PCC level
Jeril Satheesh
(PRACTICING CHARTERED ACCOUNTANT)
(60 Points)
Replied 17 September 2012
pls read supplimentary material issued by icai. its really worth reading
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
Provisions relating to registration (Rule 4 of ST rules, 1994)
As per Sec 69 of Finance Act, 1994, read iwth ST rule 4, evedry person responsible for collecting service tax has to register with Central Excise authorities.
2. The following persons shall also apply fo rregistration
a. input service distributor, within 30 dyas of commencement of business
b. Any provider of taxable service whose aggregate value of taxable service in a FY exceeeds Rs.9 lakhs within 30 days fromt eh date when the aggregate value of taxable services exceeeds Rs.9 Lakhs in the FY
3. Such persons shall apply for registration in form ST-1 in duplicate
SERVICE TAX Reg. No. : This number willb e 15 digits alpha numeric code no.
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
will be provided online in icai website pl tell me i will download now
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
can u people tell me sequence of study in ST. First Basics, Next registration then pl tell
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
Let us go by questions type in ST
1. Please explain the role ca in the filed of ST consultancy?
Jeril Satheesh
(PRACTICING CHARTERED ACCOUNTANT)
(60 Points)
Replied 17 September 2012
basic>point f taxatn. valuatn>cenvat credit
Madhavi
(CA - FINAL)
(1342 Points)
Replied 17 September 2012
A CA can provide Advisory services, Procedural compliance , personal represdntation, cetification and audit whcih we have to eloborately write
Jeril Satheesh
(PRACTICING CHARTERED ACCOUNTANT)
(60 Points)
Replied 17 September 2012
Jeril Satheesh
(PRACTICING CHARTERED ACCOUNTANT)
(60 Points)
Replied 17 September 2012
this tym services as such 'll nt ask.. so u don hv 2 worry about services
Yogita
(Partner)
(434 Points)
Replied 17 September 2012
Role of CA in ST would be to co ordinate with the ST authorities / Help the Assessee in Compliance of all the Returns Tax Payments Advicing on the Input Credit available, Incase of a Survey attending on behalf of the client, etc..........
Madhavi
(CA - FINAL)
(1342 Points)
Replied 18 September 2012
Means can u tell me in the study material which chapters we have not to read for nov exams
CAclubindia
