Service Tax on Export of Services

Service Tax on Export of Services The first notification relating to export can be traced back to Notification No.2/99 dated 28-02-1999 which means that since July 1, 1994 up to 28-02-1999 the concept of Export of Services was absent and consequently earnings in foreign exchange suffered service tax in contrast to the exporters of goods […]

Service Tax on Builders and Developers

Service Tax on Builders and Developers 1 Real Estate & Service Tax(Service Tax on Builders and Developers) 1.1  Definition of term Service – Section 65B(44)  Section 65B (44) defines service as – “service” means any activity carried out by a person for another for consideration, and includes a declared service, but shall not include—

Starting New Business? Follow the Laws!

1. First of all, one should decide the constitution of the business, for e.g. Proprietorship, Partnership, LLP, Company etc. If one has to start Partnership Firm, then will have to take registered Partnership Deed according to Indian Partnership Act. To Start Company or LLP, one has to get registered under Companies Act. Further now, as […]

Presumptive Taxation U/S 44AD Simplified

Presumptive Taxation U/S 44AD Simplified Businesses have been grown over the period of time due to general growth of the economy and varied other reasons. But at the same time various numbers of business and service providers, irrespective of their area of operations, earning substantial income are outside the tax net as Presumptive Taxation.

Service Tax on Restaurants and Hotels

SERVICE TAX ON RESTAURANTS AND HOTELS – LEGISLATIVE COMPETENCE  The Finance Act,2011 has  inserted sub clause (zzzzv) and (zzzzw) to section 65(105)  of the Finance Act,1994 thereby imposed service tax on restaurant services and  short term  accommodation services provided in hotels with effect from May 1, 2011. The scope of the services are defined as […]