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: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: empanelment :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: form 3cd :: cpt :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: articles on VAT and GST in India :: VAT Audit
 
 
« Service Tax »
 All you want to know in 5 brief points
 GST loss to be reduced by slice of service tax
 Government encouraging self-registration for GST
 Spl assembly session on GST Bill on May 9
  Getting the trade to align with GST is a challenge
 Getting the trade to align with GST is a challenge
 With GST launch, race against time to avoid sales tax upheaval across India
 GST to rate taxpayers, businesses on payment record, make ratings public
 7 major benefits of Goods and Services Tax
 100 Opening GST Profiles- Indirect Taxation- ALL Industries
 New Opening Sr. Manager-Indirect Tax For A Leading Power Company

Ministry joins service tax debate
March, 06th 2010

The budget has proposed a service tax on housing to curb speculation, but it seems the move doesnt have the support of even the housing ministry, which is seeking amendments.

The union housing ministry has recommended certain modifications on the imposition of service tax on housing announced in the recent budget.

NDTV learnt from sources in Nirman Bhawan that the modifications have been suggested as the minister incharge, Kumari Selja, is of the view that attempts to curb speculation should not make housing unaffordable for the aam aadmi.

According to the modifications being suggested, the government should exempt first-time homebuyers from the proposed tax and should also keep houses priced at less than Rs 20 lakh from outside the ambit of this tax.

Sources said that the housing ministry would take up this matter with the finance ministry sometime next week.

Meanwhile, real estate companies are not very hopeful of a relief and are getting ready to live with the new tax.

Rohtas Goel, CMD of Omaxe and president of Naredco, said, In effect, the impact comes to about 3 per cent and we will hopefully be able to cope up with it.

Service tax on housing units came into effect, despite the sector lobbying very hard for the waiver of another service tax on rental income, that was imposed in 2008.

The sector's argument is that real estate is not a service and that its a product and as such, it should be kept out of the service tax radar. Amidst all this, no one really knows if Pranab Mukherjee would relent.

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

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