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: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: cpt :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: ACCOUNTING STANDARDS :: form 3cd :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: empanelment :: list of goods taxed at 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: VAT RATES
 
 
« Service Tax »
 What does GST hold for Indian youth?
 GST will help India move towards becoming a commercial union
 Friendly advance ruling mechanism to smoothen ride under GST regime
 GST impact: Small businesses could under-report income initially
 The art of doing business under GST
 GST council to debate tax on services, fitment of items on April 18-19
 Online Services – Changes In Service Taxation
 States deserve bigger share of GST pie
 Mumbai zone service tax mop-up falls short of revised target
  Composition Tax under CGST Bill,2017
 GST Network expects last-minute rush from taxpayers

Seminar held on changes in service tax
July, 23rd 2012

Chandigarh A seminar organized by the Institute of Cost Accountants of India on Sunday stressed on the fact that there must be awareness regarding the implementation of service tax amendments, brought into effect since July 1, as there is still confusion in the service sector. The seminar was titled Paradigm Shift in Service Tax. During the seminar, members of the Institute of Cost Accountants of India, along with others, discussed the change brought baout in the levying of service tax.


The approach has led to a substantial alteration of the Service Tax Law, impacting people in terms of increased cost of services, specifically where credit is not allowed, even double taxation in some cases and compliance issues, said Rakesh Bhalla, Vice-Chairman of the Northern India Regional Council of The Institute of Cost Accountants of India.

Bhalla said that there is no clarity on the services that are to be covered under the new system of levying a service tax. 39 services are to be exempted and 17 others are in the negative list prepared by the department.

The chief guest was Anil Kumar Gupta, Internal Revenue Service (IRS) Commissioner with the department of Central Excise and Service Tax and Atul Handa, IRS joint commissioner. Bhalla said that the impact on the consumers will be that in some cases duty is to be paid by the service receiver, for which they have to register with the Service Tax Department.

Bhalla said that the reverse charge mechanism has shifted the onus of paying service tax from the service provider to the service receiver, though without any threshold limit, as in case of the Rs 10 lakh limit, available to the service provider.

Also, he said, earlier the department was required to prove that any particular service is covered in the 119 taxed services but now, the assessee is required to prove that he is not covered under service tax.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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