Latest Expert Exchange Queries
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: cpt :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ACCOUNTING STANDARDS :: empanelment :: due date for vat payment :: list of goods taxed at 4% :: articles on VAT and GST in India :: TDS
News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

Centralised registration for service tax in place
November, 09th 2006

In order to facilitate payment of service tax, the government has put in place a centralised registration system for taxpayers, who provide services from multi locations.For the purpose, the department of revenue amended Service Tax Rules, 1994 to simplify the procedure for service tax.

Thus, a large consultancy organisation can choose to register its billing section in the main office or the place from where the main service is provided, as is convenient.

Centralised registration is granted by the commissioner or the chief commissioner of central excise or DG service tax, depending on the location of premises where centralised billing or accounting system is maintained or the place from where the taxable service is provided.

Service Tax Rules were also amended to extend the facility of centralised registration to any person liable to pay service tax. For example, an importer of services who pays for the service provider abroad can also avail of the new central registration facility.

There is no change in the rules for maintaining records by the service providers. The centralisation is only for payment and the system of audit continues as before.

IIMs & IITs must pay service tax

ANOTHER circular on service tax was issued on November 1 to take the IIMs and IITs off the hook for service tax on placement services before May 1, 2006. However, the issue of charging service tax for the current season after May 2006 has been left to the jurisdiction of the commissioner of excise.

The CBEC is not clear whether IIMs are a manpower supply agency or institutions to provide quality management education in which placement services are provided to interested students as a measure of goodwill by the student bodies themselves. The provision to placement is not a part of the contract with the student nor is providing a job to the graduating student an obligation.

There is no limit on the insults to institutes of national importance by the service tax facilities. At this rate, the transfer and posting department of North Block should be liable to tax for notional value of the services rendered!

IIMs must now maintain detailed records of their phone and Internet bills to set off the expenses charged to companies for supply of students to guest companies. (The individual consumer who buys a mobile card has no set off on the service tax paid on the land line bills. He is the worst sufferer in the oppressive service tax regime).

Distilleries not spared either THE nuisance of service tax is extending its reach to new areas. The latest is a convoluted interpretation of the Excise Act, that says that liquor distilleries are liable to service tax for the activity of distillation. The product of distillation, that is, the liquor, is liable to state excise hence, the Centre can charge separately for the distillation service, says North Block.

The unique interpretation of services in manufacturing is, as of now, only in the form of a draft circular for public comment but the North Block bureaucracy has full intentions of converting the draft into an official circular.

The same activity is being taxed several times from different view points only to extract money. Simultaneously, the department is spending crores on advertisements to educate the assessee to pay service tax as a national duty to providing public goods services. The rule of law should prevail for both assesses as well as the government of the day and hair-splitting to earn revenue should not be allowed.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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