Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Service Tax »
Open DEMAT Account in 24 hrs
 6 Ways to Save Income Tax On New & Old Tax Regime for FY 2023-24
 Income Tax SFT return filing due date extension: Facility to remain open for a couple of days Latest news
 Income tax filing: Waiting for your Form 16? Here is what you need to know
 Salaried? Rental tax calculation rules you should know before ITR filing in 2023
 What are new tax regime's slabs? Know its limits, benefits, and more
 How much additional tax do you need to pay? ITR filing last date for FY 2019-20
 Income Tax Return Filing: How to file ITR - step-by-step guide
 New Income Tax Slabs for Super Senior Citizens 2023-24: Which rate will apply for ITR now?
 Income Tax Return filing 2023 data: How many Indians aged 18-35 years file ITR?
 Make tax-saving a part of your overall investment plan
 Filing ITR? Maximize Your Tax Savings With These 7 Allowance Benefits

No service tax on vocational courses by govt institutions
August, 30th 2012

"When a VEC is offered by an institution of the government or a local authority, question of service tax does not arise," the Central Board of Excise and Customs (CBEC) said in a circular.

The CBEC has issued the circular in view of the doubts expressed in respect of levy of service tax on certain vocational education courses offered by the government or local authority themselves or by an entity independently established by the government under the law, as a society.

Presently, 12 per cent tax is levied on all services except 14 in the negative list and some exemptions.

Advocates serving entities with turnover of up to Rs 10 lakh, libraries and entities providing public conveniences are among the 14 services and exempt services which don't attract 12 per cent tax under the guidance note on implementation of the negative list of service tax which came into effect from July 1.

As per the negative list, services like metered taxis, auto rickshaws, betting, gambling, lottery, entry to amusement parks, transport of goods or passengers and electricity transmission or distribution by discoms have been kept in the negative list.

The services sector account for about 60 per cent of the country's Gross Domestic Product ( GDP).

The government aims to garner Rs 1.24 lakh crore from the Service Tax during 2012-13.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting