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: list of goods taxed at 4% :: VAT Audit :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: Central Excise rule to resale the machines to a new company :: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARDS :: TDS :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
Service Tax »
 Goods and Services Tax (Compensation to States) Amendment Act, 2017.
 Services sector need to brought under Section 72A of the Income-Tax Act
 Simplifying GST: Creating a Grand Simple Tax
 The way ahead for goods and services tax
 Goods & Service Tax (GST): Recent Clarifications
 Tax payers can see status of returns filed on GSTN portal
 Export And Import Of Goods Under GST
 The Finance Resolution And Deposit Insurance Bill, 2017
 Payment made in revenue sharing deal exempt from service tax
 India seen posting stronger growth as businesses adjust to new tax
 GST High Powered Committee On Return Filing - Representation by GST Research Foundation

Service tax in comex is here
June, 06th 2008

Sub Heading : Government ends the ambiguity on imposition of service tax

 The government may have finally put the service tax issue to rest, but the spectre of the commodity transaction tax (CTT) is still haunting commodities futures trading.

The government went against tradition to enforce the service tax from May 16, instead of April 1. Now, with CTT expected to come into effect from this month, traders are keeping their fingers crossed. Generally, announcements made by the finance minister in the annual Budget come into effect from April 1. However, finance minister P Chidambaram brought commodities futures trading under the purview of the Budget, just this year.

The proposal evoked criticism, with experts saying it was not the appropriate time to impose tax. This opposition resulted in a delay in the imposition of the service tax.

"Representatives from the Forward Market Commission (FMC), National Commodity and Derivative Exchange (NCDEX) and the Multi Commodity Exchange (MCX) met finance minister, requesting him not to impose service tax and CTT. They argued that with futures trading in India still at a nascent stage, the introduction of such taxes would hamper its growth," said Chintan Modi, head, commodity research team, India Infoline.

But May brought no respite to the commodity market.

A circular from the finance ministry released on May 10 said that while services provided by commodity exchanges were not covered under service tax by the Finance Act, 2008, service tax would be applicable with effect from May 16, 2008.
Accordingly, service tax of 12.36% will be collected on charges levied by the exchanges from May 16. The invoice for charges will contain the service tax registration number, serial number, description of services, etc., to enable members to claim CENVAT credit. Apart from service tax, customers would also have to pay brokerage, transaction tax, and stamp duty.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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