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: VAT Audit :: list of goods taxed at 4% :: VAT RATES :: ACCOUNTING STANDARDS :: due date for vat payment :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: empanelment :: ACCOUNTING STANDARD
 
 
General »
 The most thrilling idea before every Budget: No income tax
 Finance Ministry likely to tweak Minimum Alternate Tax norms to boost industry
 Income tax department warns people to keep away from benami transactions
 New helpline for income tax e-filing
 The Central Government notifies the Companies (Amendment) Act, 2017
 GST Returns: Government Relaxes Rectification Norms
 Will govt bring change in income tax slab? here's the present structure
 No income tax exemption to cooperative banks
 Bitcoin investors may have to pay capital gains tax
 What industry expected when Modi government implemented GST
  The Finance Resolution And Deposit Insurance Bill, 2017

Gyms, clubs fail to register for new luxury tax
September, 14th 2012

Bringing high-end gyms, spas, health clubs and banquet halls under the tax net is turning out to be a tall order. At the close of the 30-day deadline for owners of these facilities to register with the Delhi government just about 84 applications have been received by the excise department.

The department of excise has now started identifying and issuing notices to evaders who will now have to pay the tax, a penalty equivalent to the tax amount along with the interest.

The Delhi government has set an ambitious target of Rs 10 crores for the current fiscal period from collection of the tax from these facilities. However, with owners reluctant to come forward and register, there are speculations that meeting this target will be tough since there are just six months left to get the tax evaders into the loop.

Through an amendment the Delhi government decided to bring gyms, spas, health clubs and banquet halls under the gamut of the Luxury Tax Act. It was decided to bring all facilities with an annual turnover of Rs 5 lakhs and above under tax net. The levy was fixed at 3% of the annual turnover. The amendment Bill was passed in the Delhi budget session and the amendments were notified in August.

It was mandatory for facilities notified under the amendment to register with the state within 30 days of the law coming into effect.

A public notice was issued calling upon owners of gyms, spas, health clubs and banquet halls to come forward and register and pay up the tax amount. The deadline ended on September 9. According to senior officials some of these applications are from outlets of renowned chains.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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