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: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: VAT RATES :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: due date for vat payment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: cpt :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

Pvt schools, hospitals to be in service tax net
June, 28th 2007
Will have to pay 12% tax besides 3% education cess.
 
Service tax of 12 per cent (plus the education cess of 3 per cent) will soon be levied on fees charged by schools, doctors and hospitals.
 
A decision to this effect was taken by the Empowered Committee of State Finance Ministers on Value-Added Tax (VAT) at a meeting in Srinagar on June 15.
 
The committee decided that private schools and hospitals, amusement parks, coin-operated amusement machine services and other recreation and amusement services will be brought under the tax net from the current financial year. The government will now amend the Service Tax Rules, 1994 to impose the tax.
 
Consequently, service tax at the rate of 12.36 per cent will be levied on all institutions providing pre-school education, secondary education as well as technical and vocational educational services in case the fees charged is more than Rs 1,000 per month.
 
Similarly, service tax will be levied on all private hospitals, including those providing primary healthcare, though services provided to families living below the poverty line will be exempt.
 
Healthcare companies said the tax would make their services more expensive. Healthcare players will have no option but to pass on the additional tax burden to the patients, said Daljit Singh, president (operations), Escorts Heart Institute and Research Centre Ltd.
 
Added Max Healthcare Ltd Executive Director Mukesh Shivdasani: A cardiac surgery that costs Rs 2,00,000 now will become more expensive by Rs 25,000.
 
The Centre had agreed to give the entire tax collection from 33 services to compensate states for the phasing out of the central sales tax from the current fiscal.
 
It was also agreed that another 44 services would be brought under the tax net the new services identified at the Srinagar meeting are the first five of the lot. The tax collection from the 33 services is likely to fetch states about Rs 4,000 crore this year.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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