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: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: articles on VAT and GST in India :: cpt :: form 3cd :: ACCOUNTING STANDARDS :: VAT Audit :: TDS :: ACCOUNTING STANDARD :: due date for vat payment
« Service Tax »
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C
 Determination of value for transactions between the Related parties under GST Laws.
 Higher collections can offset GST losses
 GST to subsume over a dozen Central, State taxes
 Incidence of indirect taxes won't go up under GST
 Advanced Budget date: Absence of a GST rate may present estimation challenges
  Tax queries answered by Dilip Lakhani, Senior Chartered Accountant
 FinMin warns tax officials of action against GST protest
 Model GST Law may redefine employer-employee relationship

Negative list for service tax to be effective from July 1
June, 06th 2012

Finance ministry sources informed that all notifications pertaining to the negative list for service tax will be issued today. The negative list approach will be effective from July 1, 2012. CNBC-TV18's Aakansha Sethi reports, the negative list will help the finance ministry to rake in 10-12% additional revenue, adding up to about Rs 18000 crore.

In a year when there is a constraint on the fiscal deficit, the government would like to go ahead and introduce the negative list. The negative list essentially includes everything that cannot be considered as goods but can be defined as a service. All such items will be taxed from now onwards.

The ministry has specified 17 items as part of the negative list and these will include education, healthcare as well as a deemed sale of goods.

Apart from these 17 items, every other service that is provided will be taxed and this will come into effect from July 1. This will also have an impact on the consumers because a lot of items that were untaxed till now, will have a levy of about 12% as service tax.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Desktop Application Development Outsourcing Desktop Application Development Offshore Desk

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