Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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 :: cpt :: list of goods taxed at 4% :: empanelment :: VAT Audit :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: ACCOUNTING STANDARD :: form 3cd :: Central Excise rule to resale the machines to a new company
« Service Tax »
 Do you know which 80C instruments can help you save tax and carry no future tax liability?
 E-way relief, for now, to e-commerce, courier firms sending small orders
 Where to invest for saving more on taxes
 A simpler GST can become a registry of all invoices, says iSPIRT’s Sharad Sharma
  Income Tax department may defend CPC in returns fraud case
 One GST rate not possible, next reform after compliance improves,
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
  GST Network simplifies returns filing process
 Why is the successful roll-out of the e-way bill necessary?
 How service tax became revenue lifeline for the Govt
 Three simple tricks to save income tax without investing fresh funds

Ficci infrastructure panel takes consultant service tax issue to PMO
February, 19th 2016

Industry body Ficci's National Committee on Infrastructure has taken the matter of service tax collection for consultants right up to the Prime Minister's Office, calling for a review and suggesting that the onus should be on the client to deposit the same.

"The Ficci Infra Committee on various occasions has written to Union Minister of Finance, but to no avail. Our request to the Prime Minister is the service tax payable by the employer of a consultant should be collected by the government directly from the employer," the panel said in a statement.

Under the current set-up, the consulting community pays service tax on behalf of the employer even before it receives its remuneration.

"In case there is any difficulty in accepting our request for direct payment of service tax by the service receiver, Ficci urges the Prime Minister to restore provision of paying service tax within 30 days of receipt of payment," said K K Kapila, Co-Chairperson, Ficci Infra Committee.

The consultant is supposed to pay service tax within 30 days of raising an invoice with the employer.

"The employer, which in most cases is a government department, usually responds with a payment after a considerable delay ranging from 3-6 months. In the interim, the consultant who is technically not liable for service tax is expected to make the same within 30 days regardless of whether he has received the payment or not," the statement said.

Also, in the case of payment delay, the consultant is "liable for penalties at 18 per cent for the first six months, 24 per cent for further six months and thereafter, 30 per cent, it said, adding that such a payment is linked to the value of invoice whereas actual payment by the employer to the consultant may be less than the value of the invoice raised.

Ficci went further, saying the current procedure of collecting service tax has also posed cash flow difficulty for consultants as their role is merely that of a collector on behalf of the government.

"We seek intervention of the Prime Minister... to ensure this long-standing demand of the consulting community is addressed in the forthcoming Budget. Such a step will be a genuine step in ensuring the ease of doing business," the statement said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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