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: due date for vat payment :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: list of goods taxed at 4% :: cpt :: articles on VAT and GST in India :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: empanelment :: form 3cd
 
 
« Service Tax »
 GST Return Filing: How to handle discounts and additional cost
 GST base looks set to be at least 25% wider than earlier tax regime
 Businesses struggle with multiple tax rates, returns
 Common use items exempt from e-way bill provision under GST
 Goods And Services Tax Sends Taxes Racing
 How GST lesson can unleash untapped potential of education sector in India
 Services sector PMI falls most in 4 years on GST
 Missing column in GSTR 3B form leaves input claims a shaky edifice
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 GST not easy to implement but tax base expansion will benefit all
 Goods and Services Tax was not an easy reform to implement

Govt set to define 106 taxable services to reduce litigation
December, 20th 2008
Indias finance ministry will come out with a detailed classification of taxable services aimed at clearing a mounting backlog of litigation arising from the absence of a descriptive definition of service. The new tax structure, which is also expected to ease filing by companies, may be ready in the next six months, said an official of the department of revenue who asked not to be identified because he is not authorized to speak to the media. To streamline the process of service tax collections, the department plans to describe categories in 106 taxable services, covering companies across segments such as construction, mining and information technology. We are working on a proposal to tariff the transactions under each service category, said the official. To come out with a negative list of services is not a good idea, as this can complicate things further,the official added. According to some private estimates, at least half of all indirect tax complaints in India are related to service tax. There is a need for clarity with 106 services being there and with some of them overlapping, said R. Muralidharan, executive director of auditor and consultant PricewaterhouseCoopers. The number of cases pending are increasing in service tax matters related to which category the service falls into and the import and export of services, Muralidharan said. The Union governments service tax collections during April-October, the last months for which this data is available, was Rs34,958 crore, a 29.61% jump from Rs26,971 crore in the corresponding period a year ago. During April-November, excise duty revenues went down to Rs73,878 crore from Rs75,013 crore a year ago. Customs duty revenues too saw a decline in November with collections at Rs8,931 crore compared with Rs9,005 crore in the corresponding period a year ago. Service tax litigation are a big problem in India, says Pratik Jain, executive director with auditor and consultant KPMG India. Detailed classification should certainly help as there are issues on which classification they should go into, issues relating to exemptions, as they (exemptions) are limiting to certain classifications. There are many disputes pending relating to nature of services. Today, most of the software companies are paying both service and value-added tax because there is no clarity whether the transaction should be classified as goods or a service, Jain said.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Internet Marketing Website Marketing Internet Promotion Internet Marketing India Website Marketing India Internet Promotion India Internet Marketing Consultancy Website Marketing Consulta

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