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: cpt :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: VAT Audit :: VAT RATES :: due date for vat payment :: TDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: empanelment :: list of goods taxed at 4%
 
 
Service Tax »
 Getting it wrong on GST
 GST: When does a service provider need to register across multiple states?
 GST Council to examine sectoral issues in August 5 meet
 Number of taxpayers under GST set to eclipse that of previous tax regime
 Goods and Services Tax will accelerate growth,
  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'

Rlys to hike service tax on goods traffic
January, 04th 2012

In a major policy decision, railways has decided to hike service tax on transportation of goods. This decision has been taken at the directive of revenue department under the ministry of finance.

According to a Railway Board official, railways wanted to hike this levy from January 1, 2012 itself on all goods being transported by it across the country. However, railways has kept it in abeyance till March 31, 2012 following the ministry's fresh notification, he said, adding the levy hike was due for a long time.

A Board official said railways has been charging about 10% service tax presently, while education cess is 2% and higher education cess is 1%. Railways now intends to impose about 3.09% more service tax on the goods transport by railways, he said .

Sources said freight is the mainstay of railways. Though road transport charges have gone up steeply during the past few years, the railways has not increased its freight charges much.

According to sources, railways has been passing through a critical phase due to acute resource crunch. The cost of petroleum products has increased many times, they said, adding railways has also been incurring a huge expenditure towards salary payment of its officials and employees.

A Board official admitted that railways could not take up various ambitious projects due to acute resource crunch. The old and worn out rolling stock (bogies) is not being replaced on a priority basis from safety point of view mainly due to resource crunch. However, railways is keen to take up various pending projects on public private partnership (PPP) basis, he said.

Meanwhile, ministry of finance has been exerting pressure on railways to increase passenger fare charges this time. There is a possibility of freight and fare charges being hiked in the ensuing railway budget for 2012-2013 fiscal, sources said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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