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: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: due date for vat payment :: VAT RATES :: list of goods taxed at 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: TDS :: articles on VAT and GST in India :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4%
 
 
« Service Tax »
 GST rollout uncertainty hits Budget 2017 calculations
 GST now set for July 1 roll-out, dual control hurdle finally over
 Grant of Registration under DVAT and CST
 Do not raise service tax, says Chamber
 Excise, service taxpayers to migrate to GST portal by Jan 31
 Centre, state governments work on formula for 'GST on high seas'
 What is service tax?
 Tax to bring transparency, benefit companies operating in state, says Gujarat CM Vijay Rupani
 PAN a must for excise, service taxpayers for GST registration
  Service Tax for Internet Based Services in India from December 2016
 Way ahead for GST with certain provisions

No clarity on service tax application to train fares
July, 02nd 2012

A rise in railway fares, under the new service tax regime, was not effected today due to a confusion over whether the railways had been exempted from it, officials said.

"No hike has been effected on rail passenger fares from today," said a railway ministry official.

If brought into force, the rise would have been about 3.6 per cent in all air-conditioned classes and first class.
While transport of goods or passengers have been kept in the negative list, railway officials said they had received no communication from the finance ministry on the exemptions.

They said Roy, who is expected here tomorrow, could clear the confusion.

Railway Minister Mukul Roy had on Friday requested Prime Minister Manmohan Singh, looking after the finance portfolio, not to introduce service tax on passenger fare and freight traffic from today, expressing confidence that he would realise the situation and accept his request.

Earlier, he had also requested former Finance Minister Pranab Mukherjee to exempt the railways from paying service tax.

The railways will have to bear close to Rs 6,000 crore if it decided against passing on the service tax burden to the passengers.

Service tax on passenger travel and freight was introduced in the general budget for 2009-10, but was kept on hold due to the then Railway Minister Mamata Banerjee's opposition.

The exemption has been extended since then on a quarterly basis but this time the Finance Ministry has decided to exclude freight charges and AC rail travel from the negative list, which gets service tax exemption.

With freight and passenger fares enjoying a 70 per cent subsidy, the impact on the increase in freight charges and fares of First Class and AC-I, AC-II and AC-III will be 3.6 per cent.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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