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Indirect Taxes (IDT) Amendment for May 2013 - CA Final Exam
(IDT Amendment / Notifications from 01.05.2012 to 31.10.2012)
---- SORRY, NOT AVAILABLE DUE TO UNAVOIDABLE REASON ---
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Indirect Taxes (IDT) Amendment for Nov 2012 - CA Final Exam
(IDT Amendment / Notifications from 01.11.2011 to 30.04.2012)
---- SORRY, NOT AVAILABLE DUE TO UNAVOIDABLE REASON ---
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Indirect Taxes (IDT) Amendment for May 2012 - CA Final Exam
(IDT Amendment / Notifications from 01.05.2011 to 31.10.2011)
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Indirect Taxes (IDT) Amendment for Nov 2011 - CA Final Exam
(IDT Amendment / Notifications from 01.11.2010 to 30.04.2011)
---- SORRY, NOT AVAILABLE DUE TO UNAVOIDABLE REASON ---
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Indirect Taxes (IDT) Amendment for May 2011 - CA Final Exam
(IDT Amendment / Notifications from 01.05.2010 to 31.10.2010)
Excise - Assessable Value in case of 100% EOU makes DTA sales from otherthan factory gate (i.e. Depot)
Circular No. 933/21/2010
When 100% EOU makes DTA Sale from Depot (i.e. otherthan factory gate), then it will b treated as deemed import & ED=Custom Duty on A.V. which will NOW b calculated by applying Rule4 to 9 SEQUENTIALLY (Old Provision - AV as per Rule 7 only)
Excise - Valuation Rule 5 - Both Side Freight excludible
Rule 5 of Valuation :
Now both side freight is excludible without stating in invoice specifically of return journey.
Circular No.643/34/2002 is withdrawn.
Excise - EC & SHEC in case of Compounded Levy Scheme
Compounded Levy Scheme
Sec3A of CEA 1944 : EC & SHEC are already included in ED mentioned in Sec.
(Reason EC w.e.f.2004 & SHEC w.e.f.2007 however Sec3A inserted in FA2008)
Rule15 of CER 2002 : EC & SHEC will be added separately on the ED mentioned in Rule.
Excise - CCR availed on BREAKAGE LOSS on Input reqd to be reversed if fully w.off. in books
Circular No.930/20/2010 dt 9.7.2010
In case of BREAKAGE LOSS of input, which is fully written off in books of account, credit availed is required to b reversed as per the provisions of Rule3(5B) of CCR2004
In case of BREAKAGE LOSS of input, which is fully written off in books of account, credit availed is required to b reversed as per the provisions of Rule3(5B) of CCR2004
Excise - SSI - Relaxation from Brand Name restriction has been extended
Relaxation from brand name restriction has been extended to plastic containers & bottles.
(Where the specified goods are in the nature of packing material and plastic bottles and are meant for use as packing materials by the person whose brand name they bear)
(Where the specified goods are in the nature of packing material and plastic bottles and are meant for use as packing materials by the person whose brand name they bear)
Excise - Valuation - After-sales services & PDI charges to be included in AV
Circular No. 936/26/2010 Dt 27.10.2010
It had been clarified that after-sales services & pre-delivery inspection (PDI) charges were liable to be included in assessable value u/s 4 of CEA,1944
It had been clarified that after-sales services & pre-delivery inspection (PDI) charges were liable to be included in assessable value u/s 4 of CEA,1944
Excise - Sec35 of CEA,1944
Sec37 of CEA,1944
C.Govt. has been empowered to make rules for withdrawal of facilities / imposition of restrictions on CENVAT Credit
C.Govt. has been empowered to make rules for withdrawal of facilities / imposition of restrictions on CENVAT Credit
Excise - NO Penalty if duty & intt paid voluntary before issue of SCN
Sec11A(2B)
A new explanation has been inserted which provides that NO PENALTY will be imposed in respect of voluntary payment of duty & interest before issuance of SCNExcise - Power of Superintendent increased
Now Superintendent is empowered to adjudicate cases involving duty and/or CENVAT credit upto 1Lac in individual SCN
Excise / Customs - Settlement Commission
Settlmnt Comm
Sec32O /127L
*Now assessee can apply for settlement more than 1ce.
*Bar on subsequent applicatn in cases whr -
1.an order of settlement passed which provides for imposition of penalty on grounds of CONCEALMENT of duty liablity
2.A person is convicted of any OFFENCE, after passing of settlement order
3.CASE IS SENT BACK by Set.Comm. to CEO
Sec32F /127C
Time limit for passing order of Settlement can b extended by 3months. Earlier this time limit was 9months
Sec32E /127B
Now assessee can file application for settlement where he has not maintained proper records
Sec32O /127L
*Now assessee can apply for settlement more than 1ce.
*Bar on subsequent applicatn in cases whr -
1.an order of settlement passed which provides for imposition of penalty on grounds of CONCEALMENT of duty liablity
2.A person is convicted of any OFFENCE, after passing of settlement order
3.CASE IS SENT BACK by Set.Comm. to CEO
Sec32F /127C
Time limit for passing order of Settlement can b extended by 3months. Earlier this time limit was 9months
Sec32E /127B
Now assessee can file application for settlement where he has not maintained proper records
Excise - New Levy of CLEAN ENERGY CESS by Sec83 of FA2010
New Levy of CLEAN ENERGY CESS by Sec83 of FA2010
*Its an ED levied on Production of COAL,LIGNITE &PEAT mentioned in 10th Sch
*Levy on GROSS QTY OF COAL RAISED (not washed coal)@ Rs.50per ton
*No EC & SHEC on such cess
*Invoice-not specifically reqd. Qty, name of consignee is sufficient
*Rule3(4)of CCR2004 -To be paid in cash (CCR cannot b utilised for pymnt)
*Rule3(4)of CCR2004 -Buyer cannot avail credit
*Registration-reqd Mines wise
*Payment-ALTERNATE MONTHS by 5th/6th
*Return-ALTERNATE MONTHS by 10th
*Assessment-Self Assessmnt
*General Penalty Rs.10000
*Exemption-Coal produced in Meghalaya
*In case of import of coal in raw form, CVD in lieu of excise will levied @Rs.50per ton
*Its an ED levied on Production of COAL,LIGNITE &PEAT mentioned in 10th Sch
*Levy on GROSS QTY OF COAL RAISED (not washed coal)@ Rs.50per ton
*No EC & SHEC on such cess
*Invoice-not specifically reqd. Qty, name of consignee is sufficient
*Rule3(4)of CCR2004 -To be paid in cash (CCR cannot b utilised for pymnt)
*Rule3(4)of CCR2004 -Buyer cannot avail credit
*Registration-reqd Mines wise
*Payment-ALTERNATE MONTHS by 5th/6th
*Return-ALTERNATE MONTHS by 10th
*Assessment-Self Assessmnt
*General Penalty Rs.10000
*Exemption-Coal produced in Meghalaya
*In case of import of coal in raw form, CVD in lieu of excise will levied @Rs.50per ton
Customs - Sec20
Sec20
Re-importation on rejection - Time limit in case of Nepal has been extended to 10yrs
Re-importation on rejection - Time limit in case of Nepal has been extended to 10yrs
Customs - Valuation of Pre-packed articles
Sec3
Valuation of Pre-packed articles
*Same Provision of calculating value of CVD shall apply to goods specified under Medical and Tiolet Preparation(ED)Act,1955
Valuation of Pre-packed articles
*Same Provision of calculating value of CVD shall apply to goods specified under Medical and Tiolet Preparation(ED)Act,1955
Customs - Duty Drawback not payable if EXPORT PROCEEDS NOT REALISED as per FEMA,1999
Circular No.7/2010 Dt 23.3.2010
Drawback(DBK) not payable whr EXPORT PROCEEDS NOT REALISED as per FEMA,1999 even if the claim has been settled by ECGC or realisation waived by RBI.
Drawback(DBK) not payable whr EXPORT PROCEEDS NOT REALISED as per FEMA,1999 even if the claim has been settled by ECGC or realisation waived by RBI.
Customs - Duty Drawback Rules
Rule7 of DBK Rules
Whr the exporter finds that the DBK rate fixed u/R 3 or 4 is less than 4/5th of duty/taxes paid on inputs or input services, he may submit an application will all details to Commissioner within THIRTY DAYS (earlier60days)+extended 30days
Rule16A of DBK Rules
Period of 1yr for producing evidence has been amended & now it is 3months
Whr the exporter finds that the DBK rate fixed u/R 3 or 4 is less than 4/5th of duty/taxes paid on inputs or input services, he may submit an application will all details to Commissioner within THIRTY DAYS (earlier60days)+extended 30days
Rule16A of DBK Rules
Period of 1yr for producing evidence has been amended & now it is 3months
Customs - Rule3 of Baggage Rules,1998
Rule3 of Baggage Rules,1998
Circular No.25/2010 Dt 4.8.2010
It has been clarified that Rule3 shall not apply in case of person returning from HONG KONG. Bcoz HONG KONG is SEPARATE Custom territory from China
Circular No.25/2010 Dt 4.8.2010
It has been clarified that Rule3 shall not apply in case of person returning from HONG KONG. Bcoz HONG KONG is SEPARATE Custom territory from China
Service Tax - Exemption NT 36/2010
NT 36/2010
*Exemption to advance recd prior to 1.7.2010 towards 8 New Services introduced & specified existing services by FA2010 are exempt TO THE EXTENT OF AMOUNT OF ADVANCE PAYMENT RECVD before1.7.2010 in respect of them.
*Exemption of S.Tax only on that partial/full amt which is recvd by SERVICE PROVIDER by 1.7.2010(& not by agent,who in turn trf such amt to SP after1.7.2010)
*Exemption to advance recd prior to 1.7.2010 towards 8 New Services introduced & specified existing services by FA2010 are exempt TO THE EXTENT OF AMOUNT OF ADVANCE PAYMENT RECVD before1.7.2010 in respect of them.
*Exemption of S.Tax only on that partial/full amt which is recvd by SERVICE PROVIDER by 1.7.2010(& not by agent,who in turn trf such amt to SP after1.7.2010)
Service Tax - Exemption NT 11/2010 & NT 32/2010
NT 11/2010 Exemption of service of TRANSMISSION OF ELECTRICITY,provided to any person by any person
NT 32/2010 Exemption (RETROSPECTIVE EFFECT) of service of DISTRIBUTION OF POWER,provided to any person by Distributn Licensee/distributor franchisee/any other person authorised to distribute power
NT 32/2010 Exemption (RETROSPECTIVE EFFECT) of service of DISTRIBUTION OF POWER,provided to any person by Distributn Licensee/distributor franchisee/any other person authorised to distribute power
Service Tax - New Proviso to Rule 4A
S.Tax Rules,1994
Rule4A - Issue of Invoice by SP & ISD
New Proviso inserted -
in case, ISD is AIRCRAFT OPERATOR providing service of air transport of passanger,an INVOICE etc. shall include TICKET IN ANY FORM, whether or not containing Regn No. of SP, classification of service recd & address of SP, but containing other info in such doc as reqd in this Rule.
e.g. in case of Kingfisher Airlines, Ticket will be deemed as INVOICE for the purpose of S.Tax.
Rule4A - Issue of Invoice by SP & ISD
New Proviso inserted -
in case, ISD is AIRCRAFT OPERATOR providing service of air transport of passanger,an INVOICE etc. shall include TICKET IN ANY FORM, whether or not containing Regn No. of SP, classification of service recd & address of SP, but containing other info in such doc as reqd in this Rule.
e.g. in case of Kingfisher Airlines, Ticket will be deemed as INVOICE for the purpose of S.Tax.
Service Tax - Rule6 & Rule7
DEPOSIT OF TAX under Rule6
&
e-Filing of RETURN under Rule7
If S.Tax paid in PRECEDING FY = Rs.10lacs or more INCLUDING AMOUNT PAID BY UTILIZATION OF CENVAT CREDIT, then e-Payment of Tax & e-Return is MANDATORY.
&
e-Filing of RETURN under Rule7
If S.Tax paid in PRECEDING FY = Rs.10lacs or more INCLUDING AMOUNT PAID BY UTILIZATION OF CENVAT CREDIT, then e-Payment of Tax & e-Return is MANDATORY.
Service Tax - New Rule6(7C)
New Rule6(7C) of S.Tax Rules
*Taxable Service: Promotion,Marketing or organising lottery
*Distributor/Selling Agent
*OPTIONAL MODE of PAYMENT of S.Tax instead of 10%
(a)if Guaranteed Lottery Prize PAYOUT is MORE than 80% -then Rs.(6000+Cess) on every Rs.10Lacs (or part 10Lacs) of aggregate FV of tickets PRINTED
(b)if Guaranteed Lottery Prize PAYOUT is LESS than 80% -then Rs.(9000+Cess) on every Rs.10Lacs (or part 10Lacs) of aggregate FV of tickets PRINTED
*if ONLINE LOTTERY, then aggregate FV of tickets SOLD.
*Option once excercised cant b withdrawn during that FY
*Persons Marketing Lottery tickets otherthan above, shall b exempted IF THIS OPTION IS AVAILED BY Distributor/Selling Agent
*Taxable Service: Promotion,Marketing or organising lottery
*Distributor/Selling Agent
*OPTIONAL MODE of PAYMENT of S.Tax instead of 10%
(a)if Guaranteed Lottery Prize PAYOUT is MORE than 80% -then Rs.(6000+Cess) on every Rs.10Lacs (or part 10Lacs) of aggregate FV of tickets PRINTED
(b)if Guaranteed Lottery Prize PAYOUT is LESS than 80% -then Rs.(9000+Cess) on every Rs.10Lacs (or part 10Lacs) of aggregate FV of tickets PRINTED
*if ONLINE LOTTERY, then aggregate FV of tickets SOLD.
*Option once excercised cant b withdrawn during that FY
*Persons Marketing Lottery tickets otherthan above, shall b exempted IF THIS OPTION IS AVAILED BY Distributor/Selling Agent
Taxable Services - ERECTION, COMMISSIONING or INSTALLATION
TAXABLE SERVICES
1. ERECTION, COMMISSIONING or INSTALLATION - Exemption to erection,commissioning of food grains handling system,cold storage,units processing agricultural products
1. ERECTION, COMMISSIONING or INSTALLATION - Exemption to erection,commissioning of food grains handling system,cold storage,units processing agricultural products
Taxable Services - CONSTRUCTION OF RESIDENTIAL COMPLEX SERVICES
2. CONSTRUCTION OF RESIDENTIAL COMPLEX SERVICES
*Constructn of such complex which is ENTENDED FOR SALE shall b DEEMED 2b a TAXABLE SERVICE UNLESS THE ENTIRE PAYMENT for property IS PAID BY THE BUYER AFTER THE COMPLETION of the Constructn.
*An option to pay s.tax on 25% is also given if gross amount INCLUDES VALUE OF LAND.
*Service NOT taxable when provided to JAWAHARLAL NEHRU NATIONAL URBAN RENEWAL MISSION and RAJIV AWAAS YOJNA
*Constructn of such complex which is ENTENDED FOR SALE shall b DEEMED 2b a TAXABLE SERVICE UNLESS THE ENTIRE PAYMENT for property IS PAID BY THE BUYER AFTER THE COMPLETION of the Constructn.
*An option to pay s.tax on 25% is also given if gross amount INCLUDES VALUE OF LAND.
*Service NOT taxable when provided to JAWAHARLAL NEHRU NATIONAL URBAN RENEWAL MISSION and RAJIV AWAAS YOJNA
Taxable Services - COPYRIGHT SERVICES
3.COPYRIGHT SERVICES (Now in separate clause)
*By ANY person to ANY person
*Trf TEMPORARILY or Permitting to use/enjoy
*Taxable services :Sound recording &Cinematographic films recording
*Not Taxable :Original Literacy (books etc),Dramatic(TV serials etc),Musical(Tunes etc),Artistic works(Painting etc)
*By ANY person to ANY person
*Trf TEMPORARILY or Permitting to use/enjoy
*Taxable services :Sound recording &Cinematographic films recording
*Not Taxable :Original Literacy (books etc),Dramatic(TV serials etc),Musical(Tunes etc),Artistic works(Painting etc)
Taxable Services - ASSET MANAGEMENT SERVICE BY INDIVIDUALS
*Taxable Service: Asset Mgmt, Portfolio Mgmt, Fund Mgmt
Taxable Services - MANAGEMENT,MAINTENANCE /REPAIR
5.MANAGEMENT,MAINTENANCE /REPAIR
Maintenance of Road service has been excluded
Maintenance of Road service has been excluded
Taxable Services - HEALTH CHECK-UP SERVICES
6.HEALTH CHECK-UP SERVICES-Taxable
*By Hospital,Nursing Home,Multi-Specialty clinic
*To: (a)EMPLOYEE of any business entity for HealthCheckup/preventive care (b)INSURED PERSON for HeathCheckup/preventive care/TREATMENT
*Payment directly by Business Entity or Insurance Company to Hospital
*Additional amt paid by employee,if any,wud nt b liable for S.Tax
*By Hospital,Nursing Home,Multi-Specialty clinic
*To: (a)EMPLOYEE of any business entity for HealthCheckup/preventive care (b)INSURED PERSON for HeathCheckup/preventive care/TREATMENT
*Payment directly by Business Entity or Insurance Company to Hospital
*Additional amt paid by employee,if any,wud nt b liable for S.Tax
Taxable Services - TOUR OPERATOR
7.TOUR OPERATOR
*Taxable Service:
(a)Planning,Organizing,Arranging tours, arrangment of accomodation,sightseeing etc by any mode of transport
(b)Business of operating tours in tourist vehicle under permit
*Not Taxable:
Stage Carriage under permit (Citybus),
Tours Abroad,
Educational Tours by Educational Body otherthan commercial coaching or training center,
Haj&Umrah Pilgrimage
*Invoice based Abatement:
(a)Package Tour:75%
(b)Accomodation Booking Service only:90%
(c)Hotel+Food OR Hotel+Transportation:60%
*Taxable Service:
(a)Planning,Organizing,Arranging tours, arrangment of accomodation,sightseeing etc by any mode of transport
(b)Business of operating tours in tourist vehicle under permit
*Not Taxable:
Stage Carriage under permit (Citybus),
Tours Abroad,
Educational Tours by Educational Body otherthan commercial coaching or training center,
Haj&Umrah Pilgrimage
*Invoice based Abatement:
(a)Package Tour:75%
(b)Accomodation Booking Service only:90%
(c)Hotel+Food OR Hotel+Transportation:60%
Taxable Services - PORT SERVICES
8.PORT SERVICES
*Taxable: ANY Services RENDERED WITHIN A MAJOR PORT or OTHER PORT
*by Any person to Any person
*Not Taxable: Pollution control Services,Fire Services,Supply of Electricity or Water,Hospital(except cosmetic/plastic surgery),School Services otherthan Commercial coaching or training center(CCTC),Repair of Govt's Ship etc, Repair of Ship etc amounts to Manufacture
*Value: Demurrage Charges wud b INCLUDIBLE
*Abatement: wud continue at the rate it was available in their respective clauses
*Taxable: ANY Services RENDERED WITHIN A MAJOR PORT or OTHER PORT
*by Any person to Any person
*Not Taxable: Pollution control Services,Fire Services,Supply of Electricity or Water,Hospital(except cosmetic/plastic surgery),School Services otherthan Commercial coaching or training center(CCTC),Repair of Govt's Ship etc, Repair of Ship etc amounts to Manufacture
*Value: Demurrage Charges wud b INCLUDIBLE
*Abatement: wud continue at the rate it was available in their respective clauses
Taxable Services - AIRPORT SERVICES
9.AIRPORT SERVICES : (Airport includes CIVIL ENCLAVE)
*same provisions as Port Services
*same provisions as Port Services
Taxable Services - TELECOMMUNICATION SERVICES
10.TELECOMMUNICATION SERVICES
*Almost ALL services taxable
*Exclusion:
(a)Online Info & database access-retrieval service
(b)broadcasting agency
(c)Internet Telecom service
*Almost ALL services taxable
*Exclusion:
(a)Online Info & database access-retrieval service
(b)broadcasting agency
(c)Internet Telecom service
Taxable Services - TRANSPORT OF COASTAL GOODS/ TRANSPORT OF GOODS THROUGH NATIONAL or INLAND WATERWAYS (declared by Parliament)
11.TRANSPORT OF COASTAL GOODS/ TRANSPORT OF GOODS THROUGH NATIONAL or INLAND WATERWAYS(declared by Parliament)
*Services by ANY person to ANY person
*Not taxable in transport of following goods: Petroleum etc, Luggage of passengers, Foodstuff,Clothing, Registrd Newspaper, Magazines,Pharma products,Defence Equipments, Seeds, Hank Yarn, Raw jute&jute textiles
*Services by ANY person to ANY person
*Not taxable in transport of following goods: Petroleum etc, Luggage of passengers, Foodstuff,Clothing, Registrd Newspaper, Magazines,Pharma products,Defence Equipments, Seeds, Hank Yarn, Raw jute&jute textiles
Taxable Services - BRAND PROMOTION SERVICES
12.BRAND PROMOTION SERVICES
*By ANY person through BUSINESS ENTITY or otherwise
*under CONTRACT for PROMOTION/MARKETING of a BRAND of goods,service,event or endorement of name, including Trade Name,logo or house mark
*by appearing in ads & promotional event or carrying out any promotional activity.
(Brand Ambassador's services are taxable)
*By ANY person through BUSINESS ENTITY or otherwise
*under CONTRACT for PROMOTION/MARKETING of a BRAND of goods,service,event or endorement of name, including Trade Name,logo or house mark
*by appearing in ads & promotional event or carrying out any promotional activity.
(Brand Ambassador's services are taxable)
Taxable Services - COMMERCIAL/INDUSTRIAL CONSTRUCTION SERVICES
13.COMMERCIAL/INDUSTRIAL CONSTRUCTION SERVICES
*Constructn of new bldNg which is INTENDED FOR SALE shall b DEEMED 2b TAXABLE UNLESS ENTIRE PAYMENT 4property IS PAID BY BUYER AFTER COMPLETION of Constructn
*Competent authority to issue completion certificate: Regd architect,enginner,licensed surveyor
*Does not include: Constructn,repair,alteration& renovation of wharves quays,docks,stages, jetties,piers& railways WITHIN PORT &service provided wholly WITHIN AIRPORT
*Constructn of new bldNg which is INTENDED FOR SALE shall b DEEMED 2b TAXABLE UNLESS ENTIRE PAYMENT 4property IS PAID BY BUYER AFTER COMPLETION of Constructn
*Competent authority to issue completion certificate: Regd architect,enginner,licensed surveyor
*Does not include: Constructn,repair,alteration& renovation of wharves quays,docks,stages, jetties,piers& railways WITHIN PORT &service provided wholly WITHIN AIRPORT
Taxable Services - PREFERENTIAL LOCATION OR DEVELOPMENT SERVICES
14.PREFERENTIAL LOCATION OR DEVELOPMENT SERVICES
*by BUILDER or any person authorised by builder, to Buyer
*Inclusions:
+Prime/Pref Location Charges, Internal/external development charges(devloping/maint parks,sewerage or water pipelines,access roads, common lighting etc)
+Fire-fighting installation charges
+Power backup charges etc
*Exclusion: (a)Parking Charges
(b)Development charges to the extent paid to State or Central Govt
(c)RWA/CGHS charges
*by BUILDER or any person authorised by builder, to Buyer
*Inclusions:
+Prime/Pref Location Charges, Internal/external development charges(devloping/maint parks,sewerage or water pipelines,access roads, common lighting etc)
+Fire-fighting installation charges
+Power backup charges etc
*Exclusion: (a)Parking Charges
(b)Development charges to the extent paid to State or Central Govt
(c)RWA/CGHS charges
Taxable Services - RENTING of IMMOVABLE PROPERTY
15.RENTING of IMMOVABLE PROPERTY
*IMMOVABLE PROPERTY includes (a)Building/part of building & land appurtenant thereto (b)LAND incidental to use of such building (c)Common/shared area/facilities (d)VACANT LAND given ON LEASE or LICENSE for CONSTRUCTION of bldng or temporary structure at a later stage to b used for furtherance of business/commerce (w.r.e.f.1.6.2007)
*IMMOVABLE PROPERTY does not include (a)Vacant land solely used for agriculture,forestry etc (b)Land used for educational,sports,circus,entertainment & parking purpose (c)Building used solely for residential purposes & accommodation purposes including hotels,hostels etc
*Taxable service = Renting of IM Property or ANY OTHER SERVICE IN RELATION TO SUCH RENTING, for use in course of or for furtherance of business/commerce (as factories, office bldng, warehouses, theatres, exhibition halls & multiple use bldng)
*RENTING includes letting,leasing,licensing, or similar arrangement but not include renting (i)by/to a RELIGIOUS BODY (ii)to an educational body
*IMMOVABLE PROPERTY includes (a)Building/part of building & land appurtenant thereto (b)LAND incidental to use of such building (c)Common/shared area/facilities (d)VACANT LAND given ON LEASE or LICENSE for CONSTRUCTION of bldng or temporary structure at a later stage to b used for furtherance of business/commerce (w.r.e.f.1.6.2007)
*IMMOVABLE PROPERTY does not include (a)Vacant land solely used for agriculture,forestry etc (b)Land used for educational,sports,circus,entertainment & parking purpose (c)Building used solely for residential purposes & accommodation purposes including hotels,hostels etc
*Taxable service = Renting of IM Property or ANY OTHER SERVICE IN RELATION TO SUCH RENTING, for use in course of or for furtherance of business/commerce (as factories, office bldng, warehouses, theatres, exhibition halls & multiple use bldng)
*RENTING includes letting,leasing,licensing, or similar arrangement but not include renting (i)by/to a RELIGIOUS BODY (ii)to an educational body
Taxable Services - BUSINESS SUPPORT SERVICES
16.BUSINESS SUPPORT SERVICES
Circular: Container detention charges are NOT CHARGEABLE TO S.TAX as retaining the container beyond pre-holding period is neither a service provided in behalf of client(BAS) nor it is infrastructural support in business(BSS), it is just A PENAL RENT
Circular: Container detention charges are NOT CHARGEABLE TO S.TAX as retaining the container beyond pre-holding period is neither a service provided in behalf of client(BAS) nor it is infrastructural support in business(BSS), it is just A PENAL RENT
Taxable Services - BUSINESS AUXILIARY SERVICES
17.BUSINESS AUXILIARY SERVICES
*As games of chance,lottery will b taxable in separate head & not under this service.
*Exemption to services provided by NEWS AGENCY if
(a)NOTIFIED for collection & distribution of news (b)APPLIES OR ACCUMULATES its income & NOT DITRIBUTE it to its members
*Circular: RE-INSURANCE COMMISION - NOT LIABLE TO S.TAX in any head, becoz when the amt of insurance is quite high, insurance company in certain cases, SHARES the risk with re-insurer. Agreement between Company & Re-insurer is only SHARE OF EXPENSES & thus NO SERVICE is provided
*As games of chance,lottery will b taxable in separate head & not under this service.
*Exemption to services provided by NEWS AGENCY if
(a)NOTIFIED for collection & distribution of news (b)APPLIES OR ACCUMULATES its income & NOT DITRIBUTE it to its members
*Circular: RE-INSURANCE COMMISION - NOT LIABLE TO S.TAX in any head, becoz when the amt of insurance is quite high, insurance company in certain cases, SHARES the risk with re-insurer. Agreement between Company & Re-insurer is only SHARE OF EXPENSES & thus NO SERVICE is provided
Taxable Services - TRANSPORT OF PASSENGERS BY AIR
18.TRANSPORT OF PASSENGERS BY AIR
*Service Provided by Aircraft Operator in transporting passengers EMBARKING IN INDIA FOR DOMESTIC JOURNEY OR INTERNATIONAL JOURNEY
*EXCEPTION to PASSANGERS FROM/TO NORTH EAST (ARUNACHAL PRADESH, ASSAM, MANIPUR, MEGHALAYA, MIZORAM, NAGALAND, SIKKIM, TRIPURA) & BAGHDORA in West Bengal
*Domestic - Least of (i)10% of Gross value of Ticket (ii)Rs.100 per journey per ticket
*International -
(a)Economic class or where only one class, then Least of (i)10% of Gross value of Ticket (ii)Rs.500 per journey per ticket
(b)Other i.e. BUSINESS CLASS - 10% OF GROSS VALUE OF TICKET(CCR will b available in this case)
*No CCR in case of Rs.100 or Rs.500 scheme
*EC & SHEC leviable on above amount
*Service Provided by Aircraft Operator in transporting passengers EMBARKING IN INDIA FOR DOMESTIC JOURNEY OR INTERNATIONAL JOURNEY
*EXCEPTION to PASSANGERS FROM/TO NORTH EAST (ARUNACHAL PRADESH, ASSAM, MANIPUR, MEGHALAYA, MIZORAM, NAGALAND, SIKKIM, TRIPURA) & BAGHDORA in West Bengal
*Domestic - Least of (i)10% of Gross value of Ticket (ii)Rs.100 per journey per ticket
*International -
(a)Economic class or where only one class, then Least of (i)10% of Gross value of Ticket (ii)Rs.500 per journey per ticket
(b)Other i.e. BUSINESS CLASS - 10% OF GROSS VALUE OF TICKET(CCR will b available in this case)
*No CCR in case of Rs.100 or Rs.500 scheme
*EC & SHEC leviable on above amount
