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: empanelment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: due date for vat payment :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT Audit
 
 
« Service Tax »
 India’s E-Service Tax Will Add To Foreign Content Providers’ Woes
 GST Council to discuss model laws, tax jurisdiction today
 Tax Invoice Under GST
 Insurance may fall under 12% tax slab in GST, from 14% service tax currently
 GST draft makes it must for companies to pass tax benefit to consumers
 To speed passage, Government plans GST Bills as money Bills
 No service tax on train tickets booked through IRCTC till December 31
 GST Council meet postponed to December
 Banks integrating systems with RBI, GST Network to collect tax: Arun Jaitleya
 Service tax waived for online train ticket booking till Dec 31
 Key challenges in implementation of Goods and Services Tax

More services to attract 10 per cent tax
July, 02nd 2010

Services such as promotion of brands, marketing of lottery tickets and certain health services will henceforth attract 10 per cent service tax.

Domestic and international airfares, sponsorship of sports, construction of residential properties, among other services, will also attract the levy. This is part of the government's initiative to expand the existing items under service tax.

Issuing a clarification, the Finance Ministry said on Thursday that when a payment is made in advance for air service or house construction which is to start after July 1, they will be exempted from the tax.

While legally, tax is payable on such amounts received, it has been decided to specifically exempt service tax on that partial or full amount which is received by service providers/persons liable to pay the tax before July 1, 2010, the Finance Ministry said in a statement.

A service tax has also been exempted on air travel to and from north-eastern States. Air travel to and from Bagdogra airport will be exempted from service tax, though it is located in West Bengal, as it is a gateway airport to Sikkim.

The government has imposed service tax on domestic air fares up to a maximum of Rs 100 and on international air fares with a cap of Rs 500.

The Ministry clarified that if a ticket covers more than one domestic journey, tax will have to be paid separately for each journey.

In the 2010-11 Budget, Finance Minister Pranab Mukherjee brought development of real estate complexes under the ambit of service tax, unless the entire consideration for the property was paid after completion of construction.

Finance Ministry officials later clarified that service tax would be imposed on 33 per cent of the total selling price, as there is an abatement of 67 per cent for input costs.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Portfolio

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