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: due date for vat payment :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TDS :: VAT RATES :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment
 
 
Service Tax »
  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
 GST effect: 5 things that changed after the new tax regime
 GST is no game changer for farmers, yet
 GST: Government bets big on tech to ensure e-way bill does not bring back inspector raj
 Government to keep an eye on price rise & GST glitches

Rs 20 crore service tax netted from city builders
November, 17th 2011

The service tax department has collected Rs 20 crore from several builders in the city after a survey from November 11.

Officials said the builders had collected Rs 50 crore as service tax but had not paid it to the government. They have promised to pay the balance in a week.

All builders and construction companies have to pay the tax on construction of flats, malls, offices and industrial buildings.

If any amount is collected from the prospective buyers, builders have to pay the tax on it. The rate of service tax, when property along with land rights are sold, is about 2.6% of the payment.

The Maharashtra Chamber of Housing and Industry has challenged the constitutional validity of the tax levy before the Bombay high court (HC). The HC had ordered that till disposal of the appeal, the department should not take action for recovery and directed that the builder should deposit the amount in court.

Evasion can lead to imposition of penalties and launching of prosecution, where the court can order imprisonment for up to three years.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 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