Maulin Shah
26 April 2012 at 21:40
Respected Sir,
my client had done bulding construction of govt building (Anganwadi). It is not commertial or industrial activity. I think the construction of this type of building is exempt under the service tax. Please clarify this and give your valuable opinion.
Thanking you.
S RAJENDRAPRASAD
26 April 2012 at 18:24
The Company has rendered services for product development and technology transfer to an International Party and received services charges in US Dollars. The Agreement is silent on the applicability of service tax on this transaction. Can any one enlighten me whether payment of service tax is applicable on this transaction.
Monu Bhardwaj
26 April 2012 at 12:57
Dear Sirs
Please clear what will be percentage of taxable value for vat and Service after abatment of 70% value on supply of food etc.Whether vat is to be chargeable on 30% value,Notification is as below.
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]
Government of India
Ministry of Finance
(Department of Revenue)
Notification No. 13/2012- Service Tax
New Delhi, the 17th March, 2012
G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Finance Act), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service of the description specified in column (2) of the Table below, from so much of the service tax leviable thereon under section 66B of the said Finance Act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (3) of the said Table, of the gross amount charged by such service provider for providing the said taxable service, subject to the relevant conditions specified in the corresponding entry in column (4) of the said Table, namely;-
Table
Sl.No. Description of taxable service Percentage Conditions
(1) (2) (3) (4)
1 Financial leasing services including equipment leasing and hire purchase 10 Nil.
2 Transport of goods by rail 30 Nil.
3 Transport of passengers, with or without accompanied belongings by rail 30 Nil.
4 Supply of food or any other article of human consumption or any drink, in a premises, including hotel, convention center, club, pandal, shamiana or any place specially arranged for organizing a function 70 CENVAT credit on any goods classifiable under chapter 1 to 22 of the Central Excise Tariff Act, 1985 (5 of 1986) used for providing the taxable service has not been taken under the provisions of the CENVAT Credit Rules, 2004.
5 Transport of passengers by air, with or without accompanied belongings 40 CENVAT credit on inputs and capital goods, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
6 Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes. 60 Same as above.
7 Transport of goods by road by Goods Transport Agency 25 CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
8 Services provided in relation to chit 70 Same as above.
9 Renting of any motor vehicle designed to carry passengers 40 Same as above.
10 Transport of goods in a vessel from one port in India to another 50 Same as above.
11 (i)Services provided or to be provided to any person, by a tour operator in relation to a package tour 25 (i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
(ii) The bill issued for this purpose indicates that it is inclusive of charges for such a tour.
(ii)Services provided or to be provided to any person, by a tour operator in relation to a tour, if the tour operator is providing services solely of arranging or booking accommodation for any person in relation to a tour
10 (i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
(ii) The invoice, bill or challan issued indicates that it is towards the charges for such accommodation.
(iii) This exemption shall not apply in such cases where the invoice, bill or challan issued by the tour operator, in relation to a tour, only includes the service charges for arranging or booking accommodation for any person and does not include the cost of such accommodation.
(iii) Services, other than services specified in (i) and (ii) above, provided or to be provided to any person, by a tour operator in relation to a tour 40 (i) CENVAT credit on inputs, capital goods and input services, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004.
(ii)The bill issued indicates that the amount charged in the bill is the gross amount charged for such a tour.
Explanation. –
A. For the purposes of exemption at Serial number 1 –
(i) Consideration received for the purpose of computing the gross amount charged is an amount, forming or representing as interest, i.e. the difference between the installment paid towards repayment of the lease amount and the principal amount contained in such installment paid;
(ii) the exemption shall not apply to an amount, other than an amount forming or representing as interest, charged by the service provider such as lease management fee, processing fee, documentation charges and administrative fee.
B. For the purposes of exemption at Serial number 4 -
Consideration received for the purpose of computing the gross amount charged is the sum total of the gross amount and the value of all goods, excluding the value added tax, if any, levied on goods or services supplied free of cost for use in or in relation to the supply of food or any other article of human consumption or any drink, under the same contract or any other contract:
Provided that where the value of goods or services supplied free of cost is not ascertainable, the same shall be determined on the basis of the fair market value of the goods or services that have closely available resemblance.
2. For the purposes of this notification, unless the context otherwise requires,-
(a) “chit” means a transaction whether called chit, chit fund, chitty, kuri, or by whatever name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical installments over a definite period and that each subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to a prize amount,
(b) "package tour" means a tour wherein transportation, accommodation for stay, food, tourist guide, entry to monuments and other similar services in relation to tour are provided by the tour operator as part of the package tour to the person undertaking the tour,
(c) “tour operator” means any person engaged in the business of planning, scheduling, organizing, arranging tours (which may include arrangements for accommodation, sightseeing or other similar services) by any mode of transport, and includes any person engaged in the business of operating tours,
(d) “financial leasing” means a lease transaction where—
(i) contract for lease is entered into between parties for leasing of a specific asset;
(ii) the contract is for use and occupation of the asset by the lessee;
(iii) the lease payment is calculated so as to cover the full cost of the asset together with the interest charges; and
(iv) the lessee is entitled to own, or has the option to own, the asset at the end of the lease period after making the lease payment;
3. This notification shall come into force from the date on which section 66B of the Finance Act, 1994 comes into effect.
(Samar Nanda)
Under Secretary to the Government of India
[F. No. 334/1/2012 -TRU]
------X-----
raheev
26 April 2012 at 09:12
Respected sir,
Can You Please Told me That
Can I get Claim Of Madical Remburisement Given by Employer. i have amount 12000 bill of Treatement of My Wife. Than i Want To Ask You That Can i Get Benfit Of 12000 Under Madical Remburisement
Sangit moy Das
25 April 2012 at 19:50
1)If a contractor choose composit scheme to pay vat liability under West Bengal Vat Act,
Is he liable to pay Purchase tax for any unregistered purchase
2) If his turnover cross 1.5 Crore (Above which vat audit applicable can he choose Composit scheme?
Pls help It is urgent
Shoeb Patel
25 April 2012 at 18:53
My company is an export firm registered in Mumbai with office in Sewri. I am purchasing Fish Oil from a registered supplier in Tamil Nadu which I receive by road transport packed in old used drums. As it is for export I offload it at a godown in CBD Belapur where the oil is transferred from old drums to new drums and then it is sent to JNPT and exported. Since the goods are for 100% export I am exempt from Sales Tax as I issue the H form to the Tamil Nadu supplier. The new drums used for packing the Fish Oil are bought from a manufacturer in MIDC Taloja for which I receive an invoice and VAT is not charged as to him also I issue an H form.
Recently I was approached by a cess officer at my godown who says even if the goods are for export I am liable to pay the 1% cess tax in Navi Mumbai and he has issued a FORM 'N' notice to me asking to me to come with all my accounts to NMMC ward office in Kopar Khairane. I explained to him that the goods are bought from outside the state and is for export and even my firm is not registered in Navi Mumbai but he is not listening and says I am liable to pay 1% cess tax and he also wants me to apply for the Cess No and file monthly returns. Kindly give your valuable opinions & guidance as to what should I should do.
raheev
25 April 2012 at 14:29
gud afternoon sir,
i have a query that plz clear me that my calculation u\s 44ad is right or wrong
turn over- 24 lakh
profit @ 8%(2400000*8/100)= 192000
lic - 20000
than total income (192000-20000)= 172000
than my query is that my tax liablty will be nill
bharat
24 April 2012 at 20:41
The Trial Court Ordered a some of Rs. 14 Lac as accidental claim on which the insurance company deducted Rs. 1 Lac (approx.) as TDS. The High Court Reduced the amount of claim to Rs. 8 Lac out of which I who was respondent number 4 received a sum of Rs 2.80 Lac including the interest.
My Query is that whether the TDS be refunded or not. I have only agriculture income. Is the amount received as accidental claim, taxable?
Thanks in advance.
AMARENDRA SUTAR
24 April 2012 at 14:02
please advice the last date of Issue of TDS certificate-16A for the year ended 31st march 2012.
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Can i get form 16 from auditor instead from my company
Dear experts,
My company is not issue form 16 for employees since they are not at all worrying about paying taxes.
Now i attended an interview where they asked for Form 16.
Can i approach an auditor to get Form 16? what are the documents to be submitted to apply for Form 16?
Please advise?