Latest Expert Exchange Queries

Make your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARD :: empanelment :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: due date for vat payment :: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: VAT RATES :: form 3cd
 
 
Service Tax »
 GST: When does a service provider need to register across multiple states?
 GST Council to examine sectoral issues in August 5 meet
 Number of taxpayers under GST set to eclipse that of previous tax regime
 Goods and Services Tax will accelerate growth,
  Central Goods and Services Tax (CGST) Rules, 2017
 Goods bought with loyalty points will face tax under GST
 substitution of Service Tax by Goods and Services Tax (GST)
 Income Tax: TDS deducted but ITR not filed? Here's what professionals need to do
 9 ways GST could impact home buyers
 Consumers hailed GST, but there's need for awareness'
 Tax departments keep a close watch on prices post GST rollout

Infrastructure consulting firms demand exemption from service tax
October, 29th 2014

Infrastructure consulting firms have requested the government to exempt them from service tax at par with contractors and concessionaires.

"The government-funded infrastructure projects are impeded by discrimination against the consulting engineering companies by levy of service tax. This critical issue originated with the introduction of Point of Taxation Rules 2011 & subsequent amendment in Finance Act 2012," infrastructure consultants said in a letter to Finance Minister Arun Jaitley.

They demanded a relook at the service tax introduced under the Finance Act 2012 and treatment at par with contractors and concessionaires as they are exempted from payment of service tax as per a June, 2012 notification.

"For implementing infrastructure projects practically all other agencies like contractors and concessionaires ... are exempted from payment of service tax... Whereas consulting engineering companies have been singularly denied exemption and brought into the ambit of service tax," said Co-Chairman, FICCI's National Committee on Transport Infrastructure and Chairman, International Road Federation K K Kapila.

Kapila said as against the earlier provisions of paying service tax within 30 days of receipt of payment, the consultants are being forced to pay service tax within 30 days of issuance of invoice itself and delayed payment further attracts "huge interest" of "18 per cent".

"The notification is thus highly discriminatory, prejudiced and unjust to the consultants. Many of the consultancy companies are likely to go out of business due to discriminatory, unfair and unjust provisions," Kapila said demanding treatment to such firms at par with other agencies.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Privacy Policy

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions