Hey friends - This is the right time  to learn about some items which we usually talk about but dont know their meaning. So lets start with it -       

1. Stamp Duty - 

A tax on legal documents such as those used, e.g., for the sale or purchase of shares or the conveyance of a property to a new owner.

2. Export of services -                                                                                                                                                                                                 

Meaning of Export of taxable service

Rule 3 of Export of Service Rules classifies the taxable services in three categories – (a)

Immovable property is situated abroad (b) Service performed outside India and (c) Recipient is

located outside India. Requirement to treat the service as ‘export of service’ are different for each

category.

Immovable property situated abroad In case of first category, the service will be treated as-

‘export of taxable service’ only if the immovable property is situated abroad. These services will

be eligible for exemption as ‘export of service’ only when following conditions are satisfied – (a)

the immovable property is situated abroad (b) The service is delivered outside India and used in

business or for any other purpose outside India and (c) Payment for such service is received in

convertible i.e. free foreign exchange [Rule 3(1)] [Conditions in clauses (b) and (c) have been

added w.e.f. 16-6-2005].

Services performed outside India – In case of some specified services, the service will be

treated as ‘export of service’ if following conditions are satisfied – (a) It should be at least partly

performed outside India. (b) The service is delivered outside India and used in business or for any

other purpose outside India and (c) Payment for such service is received in convertible i.e. free

foreign exchange [Conditions in clauses (b) and (c) have been added w.e.f. 16-6-2005] [rule 3(2)].

Even if such a taxable service is partly performed outside India, it shall be considered to have

been performed outside India. Thus, part performance of service in India will be permissible.

Since no percentage has been specified, it should be sufficient if just 1% of service is provided

outside India and balance is provided from India.

However, payment should be received in foreign exchange. Thus, services of courier who deliver

mail abroad will not be ‘export of service’ if they do not get paid in foreign exchange.

3. First stage dealer-                                                        

 means a dealer who purchases goods directly from:  

1. the manufacturer under the cover of an invoice issued under Rule 52A or Rule 100E or from the depot of the said manufacturer or from premises of the consignment agent of the said manufacturer or from any other premises from where the goods are sold by or on behalf of said manufacturer; or
2. an importer or from the depot of an importer or from the premises of the consignment agent of the importer