Service Tax News

Home buyers get service tax waiver ::

11 September 2007 at 09:26

Finally, the clouds of uncertainty over levying of service tax have disappeared from the minds of realty consumers and developers. According to a ruling by the Union Finance Ministry, the developers have been exempted from the service tax net, which

Posted in Service Tax | 6318 Views

No service tax on transaction charge

06 September 2007 at 13:21

NEW DELHI: Clearing houses, stock exchanges and commodity exchanges have something to cheer about. Service tax would not be levied on the transaction charges collected by the bodies from their members. The Central Board of Excise & Customs (CBEC), in

Posted in Service Tax | 3750 Views

SERVICE TAX RELIEF FOR HOME BUYERS

06 September 2007 at 11:58

SERVICE TAX RELIEF FOR HOME BUYERSThousands of property buyers who have paid service tax on theresidential apartments/flats they have purchased now have somethingto cheer about. The Union finance ministry has issued the much-awaited clarification exe

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'Service -Tax' to rope many traders and professionals

06 September 2007 at 10:17

Service tax is a comparatively new concept and is said to be the tax of the future. For this reason, several service sectors seem to be experiencing future shock. A number of traders and professionals are uneasy with this new head to extract revenue

Posted in Service Tax | 3300 Views

OIL MINISTRY SOUGHT SCRAPPING OF 'SERVICE TAX' ::

28 August 2007 at 19:07

The oil ministry has sought scrapping of service tax on exploration activities on the ground that spike in global rates for hiring rigs and other services such as geological data analysis have put huge pressure on domestic oil hunters even as they ar

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Servic e-Tax on 'Campus Recruitment' ::

25 August 2007 at 09:10

The government made it clear on Thursday that educational institutes, including the Indian Institutes of Management (IIMs) and Indian Institutes of Technology (IITs), would have to pay service tax for providing campus recruitment to their graduates.

Posted in Service Tax | 4362 Views

MORE BUSINESSES COME UNDER SERVICE TAX NET ::

24 August 2007 at 16:41

Sub-contractors in construction projects will now have to pay service tax. They will add to the various categories of small entities, which were so far not required to register themselves as service tax payers. While their taxable amount will not go

Posted in Service Tax | 4551 Views

Parliament rights enhanced..can levy service tax on CAs, architects: SC

23 August 2007 at 16:58

The Supreme Court has held that Parliament is competent to levy service tax on chartered accountants, cost accountants and architects. "We hold that Parliament has legislative competence to levy service tax by way of impugned Finance Acts of 1994 and

Posted in Service Tax | 3318 Views

Retailers, real estate cos. challenge levy of service tax

11 July 2007 at 08:56

NEW DELHI: Retailers, real estate developers and multiplex owners amongothers have moved the Bombay High Court challenging the levy of service taxon rental income from commercial properties.Pantaloon Retail, Trent, Aditya Birla Retail, Archies, CISCO

Posted in Service Tax | 4152 Views

No service tax on Life insurance Companies on 'fund management' fees !!

08 July 2007 at 02:01

Life insurance companies are set to be spared of paying service tax on fund management fees. This is good news for policy holders investing in unit-linked insurance plans (Ulip) as they will not have to take a hit on their returns. The Central Board

Posted in Service Tax | 3213 Views