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: form 3cd :: articles on VAT and GST in India :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: Central Excise rule to resale the machines to a new company :: TDS :: VAT RATES :: cpt :: VAT Audit :: ACCOUNTING STANDARDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD
« Service Tax »
 Benefits of GST to home buyers In the next lifetime
 GST: Jaitley says yes to cess, no to additional tax for compensating states
 GST to enhance ease of doing business, says Assocham
 Govt sources say cess is a better option than high tax rate
 Goods and Services Tax: There should not be more than three grades of rates, says Chidambaram
 Chidambaram says there cannot be multiple tax slabs in GST
 Service tax officials transferred for favouring realtor
 GST, a challenge and opportunity for accounting professionals’
 Service Tax On Hotels And Restaurants – Recent Delhi High Court Judgment
 GST Council discusses 4-tier tax rate, cess on demerit goods
 Why you shouldn’t miss these three simple tax saving options beyond Section 80C

Property rented to industrial units outside SEZ not exempt from service tax
August, 21st 2012

We have let out one of our industrial properties on rent to a unit registered under the Software Technology Park (STP) scheme. The tenant claims that they are exempt from paying service tax, as they are working in a customs bonded premises. Is it so? If yes, what documents should we obtain from them in order to satisfy our tax authorities?
There is no exemption from service tax on renting of immovable property to any industrial unit located outside Special Economic Zone (SEZ), whether the unit is under STP or otherwise and whether in a customs bonded premises or otherwise. However, exemption on property tax component can be claimed as per notification no. 29/2012-ST dated June 20, 2012. For units located in a SEZ, the exemption is available under notification no. 40/2012-ST dated June 20, 2012.

On food catering services, what is the service tax and VAT to be paid?
The service tax rate is 12 per cent. You also have to pay 0.36 per cent towards cesses. As per Rule 2C of the Service Tax (Determination of Value) Rules, 2006, the value of service portion in an activity wherein goods, being food or any other article of human consumption, or any drink (whether or not intoxicating), is supplied in any manner as a part of the activity, at a restaurant is 40 per cent of the total amount charged and as a part of such outdoor catering is 60 per cent of the total amount charged. Please do refer to that Rule for explanation of total amount. The VAT rate defers from state to state. In most states, there is no abatement.

My son wants send a gift to me from abroad. Will I have to pay customs duty on it?
As per notification no. 171/93-Cus dated 16.9.1993, you need not pay any duty on bona fide gifts that are not prohibited for import if you import by post, courier or air for personal use and the value does not exceed Rs 10,000. For determining the value limit, the postal charges or air-freight need not be taken into account.

Has the CBEC issued any instructions for certification of invoices for goods supplied to EOU on duty payment? We want to claim deemed export benefits.
You may refer to CBEC Circular no. 10/2009-Cus dated 25.02.2009.

Can we send export documents directly to our customer instead of routing them through a bank?
If you are a status holder (e.g., export house), you can send but you must submit the GR/SDF form to the bank. If you are not a status holder, your bank can regularise the cases where you send the documents up to a value of $1 million to the consignee or his agent in the country of final destination of goods provided you realise full export proceeds and the bank is satisfied that the transaction is genuine. For this facility, you must be a customer of the bank for at least six months and your account must be fully compliant with RBI guidelines.

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 Vision

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