Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get 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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: ACCOUNTING STANDARDS :: VAT RATES :: empanelment :: VAT Audit :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: TDS :: Central Excise rule to resale the machines to a new company
 
 
Service Tax »
 Payment made in revenue sharing deal exempt from service tax
 India seen posting stronger growth as businesses adjust to new tax
 GST High Powered Committee On Return Filing - Representation by GST Research Foundation
  Changes In Central Goods And Services Tax Rules, 2017
 GST return filing to be a breeze for small businesses
 Changes In Central Goods And Services Tax Rules, 2017
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017

Construction of single residential unit never taxable in Service Tax
October, 30th 2015

Construction of single residential unit will Not be taxable in Service Tax. She further informed that in the construction contract, if the service receiver has supplied any of the service or material free of cost to the service tax provider, then for valuation, the fair value of free supplied material or service has to be clubbed and the service tax on the whole amount will be levied.

Said experts of the Service Tax while addressing a seminar on issues related to Construction Contracts under Service Tax Act held here at ICAI Indore Branch on Tuesday.

Key speakers were renowned author on Indirect Tax Books CA Rohini Agrawal from Mumbai and Sanjay Luniya (Ex-Director Forward Market Commission and Ex-Commissioner of Central Excise and Custom Department.

CA Rohini Agrawal stated that for determining the taxability of any service it is required to read the statute as a whole. Ascertaining the category of service is crucial for determining the tax liability. She further stated that In case of any sale of residential property service tax is not applicable when no installment is taken before the completion of the project which is evidenced by Building Completion certificate or occupancy certificate in certain cases. However if any installment is taken before completion of project then the whole project will be taxable. To prove that the building has been completed, the builder has to take the building completion certificate from the municipal authority.

She said that generally it is very difficult to take the building completion certificate from the municipal authority because in India, no builder generally construct exactly as per approved map. Once the certificate is issued by municipal authority then no removal or any action can be initiated by the Municipal Authority. She further said in India it is now essential thing that all the law shall be taken or considered as a whole and if any of the authority has found later on any default in any of the act then that authority will have right to take action against the defaulters then only illegal things or acts may be stopped.

Ex-Joint Director of foreign Trade and Ex-director of Forward market Commission Sanjay Luniya, said that after 1992, India has adopted free trade policy. Central Government is publishing every year the list of goods which can be trade without any license. Anybody can import or export the goods mentioned in that list.

He further said that, the Central Government is formulating the foreign Trade Policy with consultation with Director General of foreign Trade (DGFT).

ICAI Indore Branch Chairman CA Sunil G Khandelwal said that there are various confusions and misunderstandings with regard to issues related to Service Tax applicability on Construction Contracts, hence this important seminar was planned. CA Abhishek Maheshwari conducted the program and vote of thanks was given by Secretary CA Abhay Sharma.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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