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: ACCOUNTING STANDARD :: cpt :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: articles on VAT and GST in India :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: TDS :: VAT RATES
 
 
« General »
 Tax breather for foreign investors: All you need to know
 What the increase in tax collections does not tell us about Indian economy post demonetisation
 India’s crazy retrospective tax on foreign funds will tarnish country’s reputation
 How tax related, PAN grievances can be resolved through E-Nivaran
 Tackling income tax exemptions for equities and agriculture
 Amfi wants tax benefits for retirement plans
 Top five factors which could chart market direction in the coming week
 Tax rate hikes boost shadow economy
 Tax mop-up may decline in new amnesty scheme
 Weeks before Budget, Finance Minister Arun Jaitley lists out benefit of low tax rates
 Second home loan tax benefits

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 2017 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