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% :: form 3cd :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: cpt :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: VAT Audit :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: VAT RATES :: ACCOUNTING STANDARD
« News Headlines »
 India is moving towards a flawed GST
 ICAI to organise two-day international conference in Hyderabad
 Here's how to calculate tax payable on your capital gains
 Income Tax calculations for the financial year 2016-17
 CPE Events 17 October - 22 October 2016
 High Court raps I-T Department for wrong tax demand
  CBDT signs 5 advance pricing pacts with Indian taxpayers
 Finance ministry warns tax officials of action against GST protest
 Big changes for small units under GST
 Parliament’s winter session to begin on November 16 to expedite GST rollout
 Income-tax (27th Amendment) Rules, 2016 - 92/2016

Govt's plan to levy placement tax may not face resistance
August, 23rd 2006
The government's plan to levy 12% service tax on placement services offered by management and engineering institutes will not face any resistance from the institutes concerned should it fall into place. Such was the response of a cross-section of people from such institutes that ET spoke to. Most B-school sources said to felt that the extra 12% was a mere drop in the bucket for the companies which came for campus recruitments. However, at the same time, they were of the opinion that the service tax collected from taxing placement services at these institutes would be a paltry sum, and educational institutes should be left out of its ambit. Even IIM Ahmedabad (IIM-A) and IIM-B who had contested the move when they were issued show-cause notices in March by the service tax department, are now willing to go along with the governments plan, should it be implemented. According to Prof P K Sinha, chairman, placements, IIM (A), "This plan will have no major repercussions because the companies who come to campus are already used to paying service tax. Earlier, we had contested this, feeling that the IIM is not a recruiting agency, but now, if it is a government ruling, we will abide by it." So also feels Prof S Mukherjee, chairman, placements, IIM (B) who says that the institute will not even pass on the service tax burden to the corporates. Most IITs like IIT Roorkee and IIT Kharagpur, incidentally, do not charge companies any placement fees.. Neither do premier management institutes like XIM, Bhubaneshwar or even TAPMI, Manipal. TAPMI, however, has a scheme, wherein any corporate who comes recruiting can pay a voluntary contribution of Rs 20,000 per candidate. This should not fall under the ambit of service tax but should it do so, we will pay up, said Prof D Nagabrahmam, director, TAPMI. At the end of the day, though, while none are willing to go against the law of the land, most are unhappy about the concept of a service tax levied on placement services of educational institutes. Most educational institutes are not in the business of making profit, so why should they be treated as commercial organisations, sums up Abhishek Saha, external relations secretary, IIM(C).
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

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