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: ACCOUNTING STANDARDS :: empanelment :: form 3cd :: VAT Audit :: VAT RATES :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: cpt :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT
« News Headlines »
 CBDT releases Income Tax Return statistics for last two fiscals
 CBDT issues second round of Certificates of Appreciation to tax payers for their contribution towards Nation building
 FinMin looks at cut in corporation tax
 Draft Rules for prescribing the method of valuation of fair market value in respect of the trust or the institution-Chapter XII-EB of the Income-tax Act, 1961- reg.
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers

Service tax refund extended to 3 more export-based services
May, 13th 2008
With a major part of exporters' woes subsiding thanks to the strengthening dollar, exporters now have some more reason to cheer. The finance ministry has extended service tax refund to three more export-related services. This will take the total number of such services to 19.

Exporters will now get tax refund on services provided in relation to sale and purchase of foreign currency under banking and other financial services as well as under foreign exchange broking services from May 16. Service tax refund is also available on the supply of tangible goods, where the right of possession and effective control is not transferred. This will be treated as export if the goods are located outside India during the period of their use by the recipient.

The Central Board of Excise and Customs (CBEC) has also introduced an optional scheme for service tax payment on purchase or sale of foreign currency (including money changing). Service tax will be levied on this from May 16.

Where the consideration (commission) for the services provided in relation to purchase/sale of foreign currency is not explicitly indicated, the person liable to pay service tax has been given the option to pay service tax calculated at the rate of 0.25% of the gross amount of currency exchanged, the CBEC has said.

The ministry has also notified levying of service tax on information technology, software services, investment management services under unit-linked insurance plan, internet telecommunication services and services provided by stock exchanges, commodity exchanges and clearing houses as was announced by finance minister P Chidambaram in Budget 2008-09. The notification follows President Pratibha Patil giving her assent to the Finance Bill on Saturday.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

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