Features of the gst such as - tax components, various tax brackets, exemptions etc has been discussed in this lesson. Girish garg, ijsrm volume 2 issue 2 feb 2014 [wwwijsrmin] page 544 goods and the provision of repairs, replacement and processing services. Features of service tax 1 scope: it is leviable on taxable services ‘provided’ or ‘to be provided’ by a service provider the services ‘to be provided. Buy online service tax law (law, practice & procedure) by pithisaria & pithisaria from lexisnexis india law books store. Proseries features see all 27 ways that proseries saves you time and helps you service your clients fast and confidently. Single point configuration, accurate tax calculations and returns filing/remittance are just a few of the standard features of vertex cloud learn more.
Main aspects of india’s tax structure: the principle features of india’s tax structure can be briefly salient features of indian tax service tax, excise. Salient features of central sales tax it extend to whole of the india, it state that every dealer who makes an interstate sale must be a regis. Service tax is a tax imposed by the government of india on services provided in india the service provider collects the tax and pays the same to the government our gen service tax software. The salient features of the audit manual are : (a) legal provisions for levy and collection of service tax are indicated in one place (b) principles of auditing of service tax-payers based.
Service tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers it is categorized under. Advantages of gst registration eliminating cascading effect of taxes tax rates will be comparatively lower as the tax base will widen seamless flow of input tax credit.
In case excess service tax has been paid, the assessee can either claim adjustment or request for service tax refund. Exemption from service tax for annuity services provided by nps and services provided by epfo to employees • reduce service tax on single premium annuity (insurance) policies from 35% to. Service tax salient features of budgetary changes the finance minister has introduced the finance (no 2) bill, 2009 in the lok sabha on the 6th of july.
The term indirect tax has a different meaning in the context of american constitutional law: see direct tax and excise tax in the united states features edit. Service tax: about service tax the person who pays service tax can be either a service provider or a service receiver or any other person income tax features. A platform to know and share latest information on gst-goods and service tax in india. A services client will never know how good the service is until after he a cpa at tax time may have difficulty giving the same personalized attention.
File service tax return online in delhi, gurgaon, noida, mumbai and other cities at best prices features of service tax.
Compare tax systems of different countries compare corporation tax, dividends, interests and royalties withholding tax, capital gains, vat, etc. Nature and evaluation of service tax nature and evaluation of service tax nature of service tax as per section 65 features of service tax introduction to. Salient features of service tax circular no108/02/2009 dt 29th january 2009 a property buyer will not have to pay servive tax, as clarified by the service tax. Service tax • rate of tax on services retained at 10 per cent to pave the way forward for gst • certain services, hitherto untaxed, to be brought within the purview of the service tax. Service tax was a tax levied by central government of india on services provided or agreed to be provided excluding services covered under negative list and.
Service tax features in tallyerp 9 tallyerp 9’s simple yet powerful service tax feature enables you to record transactions related to service taxwith ease. Finance act 2013 has announced vces 2013 to provide an opportunity to a person to pay service tax, which he was required to pay, but was not paid and the same. Salient features service tax is essentially an indirect tax individuals are required to pay the service tax only once in a quarter companies can pay. Service tax procedures 1 levy of service tax 11 as on 1 st may, 2011, 119 services are taxable services in india these taxable services are specified.