Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: VAT RATES :: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: TDS :: due date for vat payment :: ACCOUNTING STANDARD :: VAT Audit
 
 
Service Tax »
  Changes In Central Goods And Services Tax Rules, 2017
 GST return filing to be a breeze for small businesses
 Changes In Central Goods And Services Tax Rules, 2017
 Simple tax made complex
 Govt may review monthly GST return filing process
 Central Goods and Services Tax (Eleventh Amendment) Rules, 2017
 Extension of time limit for submitting the declaration in FORM GST TRAN-1 under rule 120A of the Central Goods and Service Tax Rules, 2017
 Composition Scheme - the Central Goods and Services Tax (Removal of Difficulties) Order, 2017
 Govt asks taxpayers to file GST return for July by Tuesday
 FAQ On Government Services Under GST
 Income Tax Appellate Tribunal, Visakhapatnam Bench List Of Division Bench Cases Posted Before During The Period From 03rd Octombar To 13th October , 2017.

Train travel, passport fee, capitation fee may come under service tax net
September, 03rd 2011

Travel by train, passport fee, capitation fees to education institutions and non-compete fees given by companies may come under tax net as the government considers a 'negative list' model to tax services, which will boost its tax revenues significantly.

Most countries follow the negative list model-where a list of exempted services is specified and every other service is taxable-to tax services, but India follows a positive list model, or naming the services that are taxed.

The Central Board of Excise and Customs has now proposed switching over to the negative list model in a concept paper that invites comments from all stakeholders.

The Geneva Intl Org. MBAThe only MBA in the world for International Organizations & NGOs
A decision on adoption of this model and composition of the list will be taken after taking into account views of all stakeholders, a finance ministry official said. "This paper is being put out only to elicit views of public on the concept and what services should be kept out of service tax net," he said.

The concept paper said, "Positive list has the advantage of definitiveness, which is an essential pre-requisite for a good taxation law. However, this very advantage starts getting eroded as the number of services increases."

A negative list-based service tax represents a fundamental change in India's approach to taxation in services. And it can lead to a significant jump in tax revenues as many more services come under tax net.

According to the concept paper, only 16% of the service sector, which contributes almost 63% of the gross domestic product, is taxed at present. About 20-25% of the service sector contribution to the GDP may be taxed under the negative list regime, it said.

The move comes as a part of the government's preparation of a roadmap for transition towards goods and services tax, or GST, which will mark a comprehensive indirect taxes reform.

The concept paper was prepared based on inputs revived from industry and other stakeholders. The negative list model has also been proposed by states in their model of GST.

At present 116 services are taxed by the central government. States do not yet have power to tax services.

The paper has listed 27 categories of services in the negative list under nine heads: government services, social welfare, public utilities, agriculture and animal husbandry, transport, financial services, construction, health and education.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Bath SEO Company Birmingham SEO Company Bradford SEO Company Brighton and Hove SEO Company Bristol SEO Company Cambridge SEO Company Canterbury SEO Company Carlisle SEO Company Chester SEO Company Chichester SEO Company Coventry SEO Compan

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