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 :: cpt :: Central Excise rule to resale the machines to a new company :: form 3cd :: due date for vat payment :: articles on VAT and GST in India :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: TDS :: ACCOUNTING STANDARD
 
 
« News Headlines »
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case
 How to save income tax under section 80C

Service tax on fuel surcharge to push up air fares
July, 11th 2006

In a move that could turn premium air travel to overseas destinations dearer, the revenue department is planning to bring fuel surcharge on air trickets under the service tax net. If cleared, the move would have a major impact on the cost of international travel as surcharges for overseas destinations go up to $60 per sector.

The revenue department has been discussing the issue with the travel trade, industry sources said. It is a complicated issue and technically nothing prevents the tax from being extended to the fuel surcharge component, said Ankur Bhatia, managing director, Amedeus India. However, since it would lead to higher costs for the passeners, he felt the government should be more careful.

Fuel surcharge varies from time to time depending on the global price of aviation turbine fuel (ATF). When ATF prices go up, airlines hike the surcharge and bring it down in line with oil prices, said a representative of an international carrier. Since it is meant only to compensate for the cost of fuel, airlines feel service tax should not be imposed on this component of the travel cost.

According to existing rules, service tax is applicable to business class and first class tariffs. Economy class is exempt from the recently-introduced levy. The fuel surcharge is over and above the basic fare and has been going up due to stiff oil prices. Airline ticketing agents get commission from the airliner only on the basic fare and fuel surcharge is kept out of the ambit. The service tax liability is basically of the agent who issues the ticket and not of the airline.

The airline agents also charge consumers on this basis. These agents pay up service tax ission at rate of 12% (plus education cess of 2%) or 1.2% of the basic fare in the case of international sector and 0.6 % in case of domestic sector.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Reengineering Software Re-engineering Software Reverse Engineering Software Reverse Development Software Change Modulation Software Conversion Software Re-creation Software Re-development

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