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: ACCOUNTING STANDARD :: TDS :: Central Excise rule to resale the machines to a new company :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: list of goods taxed at 4% :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: empanelment :: articles on VAT and GST in India :: due date for vat payment
 
 
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

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