Revised CBEC draft cuts tax exempted services to 22
Posted Date : 19-Nov-2011 , 08:20:12 am | Posted By CASANSAAR
The government's indirect taxes body has released a revised concept paper on taxation of services on the basis of a negative list, making some additions and deletion to the first paper put out in August this year. A lesser 22 services will be under the negative list, or exempt from tax, as a...
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Revised concept paper on negative list of service tax soon
Posted Date : 17-Nov-2011 , 08:12:47 am | Posted By CASANSAAR
The government will come out in few days with revised concept paper on 'negative list' for service tax -- meaning services which are not mentioned in the list would be taxed under the proposed GST regime. "The revised concept paper (on negative list of services) is ready and you should se...
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Revenue Department takes notice of 9 lakh entities stop filing returns
Posted Date : 23-Oct-2011 , 03:44:30 pm | Posted By CASANSAAR
The Revenue Department has decided to cross check service tax returns in order to locate 9 lakh entities that have stopped filing returns. E -filing has been made mandatory from this year and the exercise of cross checking is likely to start after December 26, the last date for e-filing.According to...
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Extension of date of submission of service tax half yearly returns
Posted Date : 20-Oct-2011 , 06:09:01 pm | Posted By CASANSAAR
In exercise of the powers conferred by Rule 7(4) of the Service Tax Rules 1994 read withnotification No. 48/2011-Service Tax dated 19th October 2011, Central Board of Excise and Customs hereby extends the date of submission of half yearly return for the period April 2011 to ...
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Hindus'' marriage no religious function for tax purposes: HC
Posted Date : 01-Oct-2011 , 08:51:24 am | Posted By CASANSAAR
The Hindus' marriage ceremony is not a religious but a social function and various kinds of service providers, including those erecting tents for it, are not exempted from paying service tax, the Delhi High Court ruled today.
A bench of Chief Justice Dipak Misra an...
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HC clears service tax on commercial outlets
Posted Date : 24-Sep-2011 , 09:59:12 am | Posted By CASANSAAR
In a judgment, which will rake in money into government coffers, the Delhi high court on Friday ruled that tenants of properties rented out for commercial purposes are liable to pay service tax. A three judge special bench headed by Chief Justice Dipak Misra held that renting immovable property it...
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Automatic service tax refund for exporters on anvil: CBEC
Posted Date : 21-Sep-2011 , 08:07:58 am | Posted By CASANSAAR
In a move that will bring cheers to exporters, the government today said it was working on a system to automatically transfer service tax refunds in their accounts.
"We are at a very advanced stage of preparing a software which would provide refunds of service tax to exporters automatical...
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Sales tax on mobiles, not on SIM cards: HC
Posted Date : 09-Sep-2011 , 08:14:08 am | Posted By CASANSAAR
he state can collect sales tax on mobile phones but cannot collect the same on SIM cards because a phone piece is considered part of goods while a SIM is considered a service. The AP High Court pronounced a judgment to this effect on Thursday holding that imposition of sales tax ...
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Renting of Immovable Property – HC extends Stay
Posted Date : 08-Sep-2011 , 08:02:24 am | Posted By CASANSAAR
Bombay High Court has extended the Stay until 30th September 2011, in the famous renting case – Retailers Association of India and others v Union of India ....
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DTH service like a cinema ticket, Delhi govt can tax: HC
Posted Date : 06-Sep-2011 , 08:14:46 am | Posted By CASANSAAR
Direct-To-Home (DTH) television subscribers in Delhi will continue to pay more. The Delhi High Court on Monday said the DTH service was like a cinema ticket providing continuous entertainment to viewers and hence, liable to be taxed by the state government.
The division bench of Justic...
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Govt's choice of sectors exempt from service tax is wrong
Posted Date : 02-Sep-2011 , 07:15:15 am | Posted By CASANSAAR
The finance ministry has proposed a list of service providers who will be not be taxed under the goods and services tax regime. A negative list - where some services will be exempt and others will be taxed - is a good idea. It will bring many untapped sectors under the net, reduce disputes ...
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Train travel, passport fee, capitation fee may come under service tax net
Posted Date : 30-Aug-2011 , 07:42:43 am | Posted By CASANSAAR
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 lis...
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Finmin readies GST for 2012-13 rollout
Posted Date : 26-Aug-2011 , 08:08:29 am | Posted By CASANSAAR
Implementation of a nationwide goods and services tax (GST) in 2012-13 suddenly seems possible, with the assertion of the chairman of the empowered committee of state finance ministers, Sushil Modi, to work towards meeting the April 2012 deadline.
A senior finance ministry official ...
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Rs 200 cr tax notice to Delhi, Mumbai airport operators: Fin Min
Posted Date : 24-Aug-2011 , 07:25:47 am | Posted By CASANSAAR
The government on Tuesday said it has issued notices to operators of Delhi and Mumbai airports to recover service tax dues amounting to about Rs 200 crore. "(A)Showcause-cum-demand notice has been issued to Mumbai International Airport Pvt Ltd...demanding service tax of Rs 54.68 crore for the...
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60 percent registered service tax payers not filing returns
Posted Date : 24-Aug-2011 , 07:02:19 am | Posted By CASANSAAR
The Revenue Department is trying to locate 9 lakh business entities which have stopped filing service tax returns, with a view to improving collections, meeting Rs 82,000-crore target in 2011-12 and to ascertain whether there is any tax evasion. There are 15 lakh registered service tax pay...
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Finance Ministry to launch a new scheme to refund service tax on goods exported
Posted Date : 22-Aug-2011 , 07:25:54 am | Posted By CASANSAAR
The country's biggest exporters, such as Bajaj Auto, Reliance Industries, Welspun, will soon receive electronic refund of service tax on inputs in goods exported. The finance ministry is all set to launch a new scheme to refund service tax to exporters on the lines of duty drawback scheme...
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Now, govt eyes TDS in service tax
Posted Date : 18-Aug-2011 , 08:18:02 am | Posted By CASANSAAR
The Central Board of Excise and Customs (CBEC) has proposed to introduce a Tax Deducted at Source (TDS) mechanism in collecting service tax.
TDS has been successfully used for direct taxes like the income tax. Although the proposal is at initial stage, the board has set up a study g...
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Govt owes Rs 3,500 crore to IT/BPO companies like Infosys, Mphasis, Wipro, in service tax refunds
Posted Date : 12-Aug-2011 , 01:07:05 pm | Posted By CASANSAAR
The IT/BPO sector says the government owes the industry over Rs 3,500 crore in service tax refunds for the past three years. With the amount continuing to grow, the matter is now being taken up by industry bodies Nasscom and the Confederation of Indian Industry (CII). Since 2008, com...
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Railways seeks service tax waiver to keep its finances in order
Posted Date : 11-Aug-2011 , 03:14:52 pm | Posted By CASANSAAR
Indian Railways is casting about for ways to cushion the impact of spiraling fuel prices and may raise passenger fares as a last-ditch measure. An increase in diesel prices in June has added to the worries of the state-run utility, whose finances are already strained by populist measures. ...
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Telecom firms will pay service tax on sale of SIM cards: SC
Posted Date : 08-Aug-2011 , 07:30:19 am | Posted By CASANSAAR
The Supreme Court has held that telecom operators will have to pay service tax on the sale of SIM cards as these transactions entail their processing and activation for providing cellphone services.
Upholding the judgement of the Kerala high court, a bench of justices Mukundakam Sharma and A R Dav...
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HC verdict on service tax over lease today
Posted Date : 04-Aug-2011 , 07:15:16 am | Posted By CASANSAAR
The Bombay high court on Thursday will start dictating the judgment in a case related to the central government levying service tax payable on leasing, letting, licensing and renting of immovable properties for commercial purposes. The court was hearing several petitions moved by establisments such ...
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Indian Railways has not paid service tax on catering and advertising for years
Posted Date : 01-Aug-2011 , 04:45:35 pm | Posted By CASANSAAR
Chances are the authorities would immediately go after you if you refuse to pay taxes. But if you are Indian Railways, they could choose to look the other way. Well, that's what has been happening with the Indian Railways which has not paid service tax on catering and advertising for years, despite ...
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Service tax evaders under scanner
Posted Date : 25-Jul-2011 , 08:01:29 am | Posted By CASANSAAR
The government is set to crack down on nearly nine lakh service providers - constituting almost 60% of those registered with the tax department - for not filing returns.
A recent study by the finance ministry has revealed that of the 15 lakh service providers across the country, only six lakh are ...
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Government prepares ground for TDS on services, to primarily impact B2B service providers, including IT majors like TCS, Infosys, Wipro, BPOs & consultancy services
Posted Date : 23-Jul-2011 , 02:37:08 pm | Posted By CASANSAAR
The finance ministry is exploring the option of introducing tax deduction at source, or TDS, in the services sector to stem tax evasion, though some experts say the move could raise transaction costs and lock up working capital. The proposed tax regime will be similar to the one in place for in...
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■Govt to come out with negative list of service tax
Posted Date : 05-Jul-2011 , 09:25:30 pm | Posted By CASANSAAR
The government will come out with a draft 'negative list' for service tax in two weeks, meaning services which are not mentioned in it would be taxed under the proposed GST regime. "The draft paper (on negative list of services) is nearly ready and you should see this paper in two weeks," Joint Secr...
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Service tax evasion up three-fold to Rs 1651 cr in FY12 so far
Posted Date : 05-Jul-2011 , 07:24:44 am | Posted By CASANSAAR
India's service tax evasion, aided mainly by sectors like telecom and industrial construction, has jumped by a mammoth 200 per cent in the first quarter of the current fiscal touching Rs 1,651 crore. The probe in many cases, according to sources, has led the enforcement agencies to a chain of evasio...
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Service tax on rail freight deferred again
Posted Date : 03-Jul-2011 , 09:58:59 pm | Posted By CASANSAAR
The finance ministry, for the fifth time, has deferred service tax on rail freight by another six months. The cash-strapped government is likely to take a hit of Rs 1,000 crore in a year due to this.
The deferment has come as a surprise since the ministry was expected to give effect to th...
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Unitech gets CEI notice for defaulting on service tax
Posted Date : 23-Jun-2011 , 07:22:09 am | Posted By CASANSAAR
The Central Excise Intelligence (CEI) has issued a notice to a leading real estate company, Unitech Limited, for not paying service tax of over Rs 43 crore to the government, for several road maintenance projects.
The notice, demanding the service tax, was sent to the South City office of Unitech ...
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Ad agencies versus govt: War on service tax deadline
Posted Date : 08-Jun-2011 , 08:48:24 pm | Posted By CASANSAAR
The advertising industry has hit out against the government. An advertisement in major newspapers appealed against the new rule that compels agencies to pay service tax before payment is received, reports CNBC-TV18's Nikita Rana.
As per the rule, the deadline for ad companies to pay service...
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India on IATA's 'Wall of Shame' for imposing high service tax
Posted Date : 06-Jun-2011 , 09:29:33 pm | Posted By CASANSAAR
India was on Monday put on the 'Wall of Shame' by the IATA for imposing high service tax on air tickets when aviation sector was growing at a high pace, with the world airlines' body warning the country not to kill the "goose that lays golden eggs". The government was put on the Wall of Shame at the...
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