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: due date for vat payment :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: form 3cd :: TDS :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES
 
 
« Service Tax »
 If GST not rolled out by Sept, there won't be taxation in country, warns Jaitley
 India’s E-Service Tax Will Add To Foreign Content Providers’ Woes
 GST Council to discuss model laws, tax jurisdiction today
 Tax Invoice Under GST
 Insurance may fall under 12% tax slab in GST, from 14% service tax currently
 GST draft makes it must for companies to pass tax benefit to consumers
 To speed passage, Government plans GST Bills as money Bills
 No service tax on train tickets booked through IRCTC till December 31
 GST Council meet postponed to December
 Banks integrating systems with RBI, GST Network to collect tax: Arun Jaitleya
 Service tax waived for online train ticket booking till Dec 31

Indian Railways to open all services for service tax registration
April, 05th 2013

This was something that the country's largest employer had been reluctant to do ever Lalu Prasad took over as its boss. But the Indian Railways has now relented and has agreed to open services other than ticketing, that are offered by its various arms, to service tax.

The Central Railway and Western Railway are among the first to register for taxation, various service rendered under their arms.

According to officials, railways offer various service apart from tickets, which are currently out of the tax net. These include restaurants on the platform or on railway premises, book shops, brokers and jobbers (For railway scrap auctions, renting out land, etc), services operating from space let out by the railways, among others. The additional cost will be passed on and consumers may have to pay more for the food items bought in the railway platform or even shoes polished by a shoesmith using space rented from the railways. Tickets and railway freight are already under the service tax net.

Railways have been opposing the move to include non-ticketing and non-freight services till date.

However, the railways relented after the finance ministry agreed to amend Section 99 of Indian Railways Act to provide exemption to Indian Railways with respect to taxable services prior to July 1, 2012. In fact, budget 2013-14 specified that exemption will be granted to the extent show cause notices have been issued up to February 20, 2012.

Incidentally, as a friendly gesture, the finance ministry may delete the clause of show cause notice and its cut off date for extending exemption for 2012 cases in the final finance bill yet. This is being considered to facilitate all such cases where show cause notices have not been sent and investigation are underway to send notices in future. Thus exemption will be allowed even in cases where show cause notice has not been sent but investigations are underway.

In the first seven months of the current financial year, indirect tax collection, which includes excise, customs and services tax, was Rs 2.57 lakh crore. while excise has yielded Rs 95,000 crore during this period, collection from customs and services tax worked out to about Rs 92,000 crore and Rs 70,000 crore respectively. The government in the current fiscal had proposed to collect from customs, excise and services tax Rs 5.05 lakh crore, an increase of 27 per cent over realisation in the previous fiscal

In order to boost service tax collection, the finance ministry has come out with an amnesty scheme called Voluntary Compliance Encouragement Scheme (VCES).

At present, service tax is the lowest contributor to the exchequer even though the sector accounts for the highest share of India’s GDP.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multimedia Presentations Multimedia Solutions 3D Solutions Corporate Presentations Business Presentations Multimedia Presentation India M

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