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: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: VAT RATES :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: articles on VAT and GST in India :: empanelment :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: Central Excise rule to resale the machines to a new company :: form 3cd
 
 
Service Tax »
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.
 Facility of LUT extended to all exporters / registered persons subject to conditions
 GST implementation – Hasty turns out nasty
 What is Goods and Services Tax Network (GSTN)?

Service tax clarity profit booster for SEZs
May, 23rd 2009

The government has provided the much-needed relief sought by developers or units inside special economic zones (SEZ).

Through a notification on May 20, the government has allowed developers or units to get the list of services specified in clause (105) of Section 65 of the SEZ Finance Act approved following which they shall be exempted from service tax.

Services consumed outside an SEZ will have to pay tax but these can be refunded later.
The developer or units of SEZ can claim such exemption provided no Cenvat credit of service tax paid has been already taken under the Cenvat Credit Rules, 2004.

Essentially, the effect of the May 20 notification is that developers or units will not have to pay service tax on services within the SEZ but will have to pay tax on services consumed outside the SEZ. This, however, can be claimed as refund later.

Developer and units benefit since their working capital will not be blocked.

For services consumed outside the SEZ the refund will mean no added cost for the developer or units and in that respect their profitability can be higher by 10.3% as the service tax component will not be an expenditure for them.

Earlier the government had, in a notification on May 31, 2004, exempted developers and units located in an SEZ from service tax for approved services within an SEZ.
Later, on March 3, 2009, the government made the developer as well as the units located in an SEZ first pay tax on services consumed both within an SEZ and outside and seek refund on the following conditions:

(a) the developer or units of SEZ shall get the list of services approved from the approval committee

(b) the developer or units claiming exemption actually uses the specified services in relation to the authorised operations in the SEZ;

(c) the exemption claimed by the developer or units shall be provided by way of refund of service tax paid on the specified services used in relation to the authorised operations;

(d) the developer or units claiming exemption have actually paid the service tax on the specified services;

(e) no Cenvat credit of service tax paid on the specified services used in relation to the authorised operations has been taken under the Cenvat Credit Rules, 2004;

(f) exemption or refund of service tax paid shall not be claimed except under this notification.

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

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