Service tax for november 2013

IPCC 563 views 2 replies

Parth Jain

Student

42 Points Joined October 2012

Hello people,
I am a CA-IPCC student. I took tax coaching for the attempt Nov'12, and I had a few queries for Nov'13 attempt (unfortunately I was not able to take the ammendment class). Due to a couple of ammendments since Noc'12 attempt, the whole Service Tax looks quite messy! The queries are as follows:

1) What is the interpretation of Section 67A of the Finance Act? And how did it effect the Point of Taxation Rules and Service Tax Rule 6 ?

2) Is the threshold exemption limit of Rs. 10 Lacs still applicable for SSPs?

3) Are the Notional Rates of Tax for Air Travel Agent, Life Insurance Premium, Foreign Exchange Broker & Lottery Ticket Agent still applicable?

I tried searching for query (1) on the internet, but I found different results on different sites.
Please help me in solving my queries, it is pretty urgent as the exams are on my head! Either provide me wuth solutions or guide me where can I find the solutions.
Is there any book available in the market which I can refer to?

Thank You,
Parth Jain

Replies (2)

Saurabh Maheshwari

B.com ACA

5923 Points Joined December 2011

You will get solutions of all queries from the Practice Manual ...so pls go thru the same...it is really well explained there...

Rahul Bansal

Finalist

35929 Points Joined September 2009

Use Latest RTP & Supplementary Study Material issued by ICAI applicable for May 2013 & Nov 2013 Exams...............

LINK:

Revision Test Papers

Supplementary Study Material

Another Link : Additional Reading Material

PAPER - 8 : INDIRECT TAX LAWS

Education Guide for Taxation of Services

Year 2012-13 has witnessed a paradigm shift in taxation of services in India from the existing system of subjecting to tax only services of specified descripttions to taxing all services, except those specified in the negative list. The selective approach has made way for the comprehensive approach.

With a view to increase awareness about the new dispensation and to educate the stakeholders on the niceties of the new regime, the CBEC has come out with an Education Guide on Taxation of Services. Students desirous of gaining knowledge on the new system of taxation of services may click on the following link and read the Education Guide:

Link: https://www.icai.org/post.html?post_id=8710

However, it may be noted that that the new system, being introduced vide the Finance Act, 2012, would be relevant only from May 2013 examination onwards. It is clarified that the new system is not relevant for November 2012 examination.

U will definitely get ur query resolve by using ICAI RTP.

I personally read them & it helps me a lot too...........

Best Of Luck Dear

Regards