News shortcuts: From the Courts | Top Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | Professional Updates | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Service Tax »
 Section 80G deduction - An added incentive to donate to the PM CARES Fund
 COVID-19 tax-saving extension: Here are the key operational aspects
 Make tax saving investments till June 30 No confusion
 Why you must respond to outstanding tax demand online
 Income Tax Refund (ITR) payments become fast! Modi govt shares this interesting data
 Service Tax Refund cannot be claimed once barred by Limitation
  Why you should file belated ITR, correct ITR errors before March 31
 Finance Bill 2020 changes rules on TDS, NRIs and dividends
  Why you should file belated ITR, correct ITR errors before March 31
 How can I set off losses from share trading against income tax liability in current FY?
 Why you should file belated ITR, correct ITR errors before March 31

IAMAI asks for service tax cut to spur consumption
January, 06th 2009
Demanding a moratorium on service tax for nascent industry segments in the IT sector, Internet and Mobile Association of India today made a strong case for slashing service tax by four per cent across the board. Noting that service tax should be reduced to all services in line with the excise duty cut announced last month, IAMAI said,"A cut in service tax will come as a major relief to the micro, small and medium-sized service sector companies." In a memorandum to the Union Government, the body said slashing service tax will immediately boost domestic consumption up to the value of the rate cut, or leave more money at the hands of the consumer. " Unlike the longer cycle time in manufacturing, a cut in the service tax will make an immediate impact," IAMAI said. IAMAI said it has been demanding a moratorium on service tax for nascent industry segments like Internet and mobile value-added services business for some years. "A reduction in service tax to 8 per cent on all 104 categories of services under this tax for at least two years would be an appropriate measure to match the revival packages recently announced for the manufacturing sector," IAMAI said. Among the services listed by IAMAI for a tax relief are the likes of online advertising, online services, mobile value-added services, Internet cafe and units in special economic zones.
Home | About Us | Terms and Conditions | Contact Us
Copyright 2020 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting