Even as many States endorsed the approach of Constitutional amendment for introduction of the Goods and Services Tax, Madhya Pradesh and Gujarat have made it clear that Constitutional amendment is not acceptable to them. At the Empowered Committee meeting Madhya Pradesh proposed an alternative interim GST framework that would obviate the need for a Constitutional [...]
Archive for the ‘Service Tax’ Category
MP Suggestion: States to tax all goods & Centre to tax services
Posted by khyati on September 21st, 2010
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CBEC ask telecom dept for service-tax records
Posted by khyati on September 17th, 2010
The Central Board of Excise and Customs (CBEC) has asked the telecom department for copy of special audits that were undertaken on the books of all leading telecom companies to examine the service tax angle. Last year, the government ordered special audits on the books of all telcos beginning with Reliance Communications(RCOM) after the Cellular [...]
Govt may lose over Rs 500 crore in service tax disputes this year
Posted by admin on September 6th, 2010
The government may lose over Rs 500 crore in service tax this year, as its decision to impose tax on eight new services and amend some existing ones has been challenged in three cases — copyright, immovable property and health check-up services provided by insurance companies. This is about half of the total revenue it [...]
Service tax on on-going works contracts entered into prior to 01.06.2007
Posted by khyati on August 24th, 2010
Circular No. 128/10/2010-ST F.No.354/141/2010-TRU Government of India Ministry of Finance Department of Revenue Central Board of Excise & Customs (Tax Research Unit) North Block, New Delhi, 24 thAugust, 2010. To Director General (Service Tax), Director General (Central Excise Intelligence) Director General (Audit) Chief Commissioner of Central Excise and Service Tax (All) Commissioner of Central Excise [...]
Govt to HC: Copyright to attract service tax
Posted by khyati on August 23rd, 2010
The revenue department has contested the petition filed by PVR Pictures in the Delhi High Court against the government’s decision to levy service tax on copyright services such as sale of music rights, sale of direct-to-home satellite TV rights, and screening in cinemas. In a counter affidavit filed in the court, the department has said [...]
Finmin in a fix over proposed service tax rules from Oct 1
The finance ministry is in a fix over the proposed implementation of point of taxation rules for service tax from October 1 this year, with the industry resisting transition to the accrual basis for taxation of services. Simply put, under the accrual-based method, the tax will be considered ‘paid’ when the invoice is made, irrespective [...]