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: articles on VAT and GST in India :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: empanelment :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD
 
 
News Headlines »
 How to claim income tax refund
 How to time your buys to have best of two tax regimes
 Here's why you must always check Form 26AS before filing tax return
 Want to file your income tax return after June 30? Having Aadhaar card is a must
 Timeline for filing of tax returns extended by two months
 Top 5 common mistakes to avoid while filing your income tax returns
 GST rollout on July 1: Deadline for filing tax returns extended
 What is GST?
 Income-tax (15th Amendment) Rules, 2017?
 Banks get a breather as GST Council extends deadline for tax filing
 Income Tax filing: Your easy guide in 7 steps

IAMAI seeks service tax waiver
January, 08th 2007
The Internet and Mobile Association of India (IAMAI), a non-profit body of internet and mobile value-added services players, has asked the finance ministry for a five-year moratorium on payment of service tax. 
 
In a pre-Budget memorandum to the ministry, the IAMAI has said the Internet is at a nascent stage in India and the imposition of service tax on Internet advertisements is hampering the growth of the industry. 
 
It has also asked for a waiver of service tax on transactions done through credit cards, debits cards and net banking. 
 
When inter-change rate is added to the new service tax rate, the cost of products and services sold online becomes significantly higher than those sold offline. This seriously harms the nascent e-commerce industry in our country, the IAMAI said. 
 
The online transaction market is around Rs 3,000 crore, growing at 100 per cent year on year, according to the body. 
 
The IAMAI has demanded that mobile value-added services companies be given exemption from service tax, since there is no revenue loss to exchequer, as on end-user price the government is being paid a service tax by the telecom operators who are billing the customers for such services. 
 
Levying service tax on these players would amount to duplication of efforts, it added. 
 
The body also asked the central government to direct all state governments not to impose entertainment tax on Internet and broadband services. 
 
Internet users in the country are set to grow to 42 million by March next year and the number of mobile value-added service users is 15 per cent of the total mobile. 
 
In the first half of 2006, the industry has seen an investment of $75 million from venture capital firms.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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