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Service Tax Notifications From No.51 to 58

New Service Tax Notification No 51-58 has been given as below. go to the link to see the detail notifications of service tax. Service Tax Notification No 51/2010 – Service Tax, dated 27th February, 2010 – Seeks to exempt the right to use packaged or canned software from whole of service tax subject to certain conditions Service Tax Notification No 52/2010 – Service Tax, dated 27th February, 2010 – Seeks to exempt the right to .....

Union Budget 2010: Construction Services Tax to Raise Cost of Apartments

The Union Budget has brought about many changes in the world of economic activities to improve the efficiency and collection of tax as well. But it has certainly hurt many areas in its operation and one of such area is the housing industry.  The Union Budget 2010 has expressly put the housing industry under the realm of service tax which has certainly lifted up the cost of apartments which are still under going through the .....

Service Tax Second Amendment Rules 2010 – Notification No. 50/2010

Service Tax Second Amendment Rules 2010 – Exempts persons marketing the lottery tickets other than the distributors or selling agents appointed or authorised by the lottery organising State. NOTIFICATION NO 50/2010-Service Tax, Dated : October 8, 2010 In exercise of the powers conferred by section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest .....

Service Tax – A Dummy Guide for Service Tax in India

Service tax is a new area of taxation in India, first introduced by the then Honorable Finance Minister Dr. Manmohan Singh by inserting chapter V in the Finance Act, 1994. It is the form of indirect tax and levied on the value of taxable services. There is no service tax act. The provisions relating to levy, collection administration of service tax are laid down in the Finance Act, 1994 as amended from time to time. .....

A Must for Every Service Provider: Know your Taxability

Generally, service-provider is liable to pay service tax but there are certain exceptions which are discussed below: Recipient of service liable to pay service tax: in the following cases,  recipient of service will be liable to pay service tax; In relation to insurance auxiliary service by an insurance agent, the insurance company i.e. general insurance business or life insurance business will be liable to pay tax. The insurance agent will not be liable to pay .....

New Provisions of Service Tax on Sale and Construction of Residential Property

The news relating to imposition of service tax on sale and construction of residential property has come as a shock for all the prospective buyers of real estates and the construction industry. The issue has become an area of major discussion and has gained great eminence after the Budget 2010 due to noteworthy modifications made therein in direction of taxability on the basis of service tax on the sale of flats. With effect from 1st .....

Service Tax on Commercial Training and Coaching – Whether ‘Donation’ is ‘Consideration’

Circular No. 127/9/2010-ST, dated 16-8-2010 A representation has been received seeking clarification whether donations and grants-in-aid received from different sources by a charitable Foundation imparting free livelihood training to the poor and marginalized youth, will be treated as ‘consideration’ received for such training and subjected to service tax under ‘commercial training or coaching service’. 2. The matter has been examined. The important point here is regarding the presence or absence of a link between ‘consideration’ .....

Sale of Under Construction Houses to Attract Service Tax from July 1:

The 2010 budget issued by the government has come as a big shock for prospective buyers of house property. The budget flashed the highlight that now sale of under construction houses will come under the purview of service tax. The under construction of house will be in respect of any kind of immovable property which may be in form of apartments, flats, rows etc. As it is, the prices of real estate are raising everyday .....

Service Tax Registration Procedure in India

There are many formalities we have to follow for registering Service Tax in India. All the formalities of Section 69 of the finance act, 1994 must fulfill to get service tax registration. For registration we have to submit an application for service tax in form ST-1 to superintendent within 30 days from service tax due date. Normally for a new business which is liable for service tax must apply for service tax within 30 days .....

Service Tax Latest Notifications

Service Tax Notifications – Latest Notifications of Service Tax posted in etaxindia.org/forums ‘Tax India Forum‘. Click to see the full service tax notification. Service Tax (Removal of Difficulty) Order, 2010 – M.F.(D.R.) Order No. 1/2010, dated 22-6-2010 Date notified for enforcement of Finance Act, 2010 – Notification No. 24/2010-Service Tax, dated 22-6-2010 Section 65(105)(zzzo) of the Finance Act, 1994 – Transport of passengers embarking in India for international journey by air services – Exemption to .....

Service Tax on Goods Transport Agency

The Finance Act of 2004 has imposed the levy of service tax on the goods transporters w.e.f 10-09-2004. Any commercial company which deals in services pertaining to transport of goods by road and issues consignment note is known as a goods transport agency, as stated in section 65 (50b) of the Finance Act of 1994. As mentioned in the Finance Act of 1994, a goods transport service provider must be a commercial concern. The legislature .....

Service Tax Provisions of Finance Bill 2010 Explained by Department

The Finance Minister has introduced the Finance Bill, 2010, in the Lok Sabha  on  26th    February  2010.  Clause  75  and  76  of  the  said  Bill  covers  the legislative changes relating to Chapter V of the Finance Act, 1994 (i.e. Service Tax). While some fresh  exemptions from service tax have been granted, some existing exemptions have either been withdrawn or modified.  All these changes have been notified under notification nos. 2/2010-ST to 17/2010-ST all dated 27th .....

New Eight Services Added under Service Tax

Finance Bill 2010 has introduced eight new services to charge service tax. These 8 New services Added in Service Tax  Net ( Tax will come in force from the date to be Notified). The following are the list of services introduced in Finance Bill 2010. You can see the highlights of Budget 2010 related to direct and indirect taxes. This article is only the part of the service tax highlights in budget 2010 for the .....

Only Legal firms are Comes under Service Tax not Independent Practicing Lawyers : BCI

The service tax introduced for lawyers in this year’s budget is applicable only to legal firms and not to independent practicing lawyers cleared by The Bar Council of India (BCI). Only law firms will have to pay the service tax and not individual lawyers.  Although the service tax will have to be paid only by law firms, clients of such firms will have to spend more.

Changes in Service Tax | Budget 2009-10

There are no major changes in service tax after union budget 2009. Some are new service has introduced in this budget. New Services has been levied on following services: Transportation of goods through Railways, including government railways. Transport of coastal goods, and transport through inland waters. Legal Consultancy Services, except services provided by an individual or to an individual. Cosmetic Surgery & Plastic Sergery. Certain services have been modified. The definition of job work, under .....

Service Tax Rates Chart

Chart Showing Service Tax Rates Chart from 16-07-2001 Effective Dates Service Tax Rate Education Cess Secondary and Higher Education Cess Total 16-07-2001 to 13-05-2003 5% NIL NIL 5% 14-5-2003 to 09-09-2004 8% NIL NIL 8% 10-09-2004 to 17-04-2006 10% 2% NIL 10.2% 18-04-2006 to 11-05-2007 12% 2% NIL 12.24% 12-05-2007 to 23-02-2009 12% 2% 1% 12.36% 24-02-2009 onwards 10% 2% 1% 10.30%

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