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Discussion on service tax ca final - can anyone join now?

Madhavi (CA - FINAL) (1342 Points)

17 September 2012

can anyone come for discussion of service tax ca final now

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Rita Bansal (Senior Audit I/c) (98 Points)
Replied 17 September 2012

OK Madhavi Lets start the discussion.

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Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

nice welcome.

Let us first dicuss basics of service tax

Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

1. there is no separate legislation for the purpose of ST. The provisions are laid down in sec 64 to 96 of Finance Act, 1994

2. ST provisions extend to whole of India except hte state of Jammu and Kashmir. Hence the services provided within Jammu and Kashmir are excluded from the levy of ST

3. The person providing service has to pay ST

4. ST is payable on gross amount charged by the service provider

5. Reimbursement of out of pocket expenses will now be included in teh valuation of taxable service unless otherwise provided

there are some other provisions whcih we read in PCC level

Jeril Satheesh (PRACTICING CHARTERED ACCOUNTANT) (60 Points)
Replied 17 September 2012

pls read supplimentary material issued by icai. its really worth reading

Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

Provisions relating to registration (Rule 4 of ST rules, 1994)

As per Sec 69 of Finance Act, 1994, read iwth ST rule 4, evedry person responsible for collecting service tax has to register with Central Excise authorities.

2. The following persons shall also apply fo rregistration

a. input service distributor, within 30 dyas of commencement of business

b. Any provider of taxable service whose aggregate value of taxable service in a FY exceeeds Rs.9 lakhs within 30 days fromt eh date when the aggregate value of taxable services exceeeds Rs.9 Lakhs in the FY

3. Such persons shall apply for registration in form ST-1 in duplicate

SERVICE TAX Reg. No. : This number willb e 15 digits alpha numeric code no.

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Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

will be provided online in icai website pl tell me i will download now

Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

can u people tell me sequence of study in ST. First Basics, Next registration then pl tell

Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

Let us go by questions type in ST

1. Please explain the role ca in the filed of ST consultancy?

Jeril Satheesh (PRACTICING CHARTERED ACCOUNTANT) (60 Points)
Replied 17 September 2012

basic>point f taxatn. valuatn>cenvat credit

Madhavi (CA - FINAL) (1342 Points)
Replied 17 September 2012

A CA can provide Advisory services, Procedural compliance , personal represdntation, cetification and audit whcih we have to eloborately write

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Jeril Satheesh (PRACTICING CHARTERED ACCOUNTANT) (60 Points)
Replied 17 September 2012

https://www.icai.org/post.html?post_id=4395

Jeril Satheesh (PRACTICING CHARTERED ACCOUNTANT) (60 Points)
Replied 17 September 2012

this tym services as such 'll nt ask.. so u don hv 2 worry about services

Yogita (Partner) (434 Points)
Replied 17 September 2012

Role of CA in ST would be to co ordinate with the ST authorities / Help the Assessee in Compliance of all the Returns Tax Payments Advicing on the Input Credit available, Incase of a Survey attending on behalf of the client, etc..........