Author: CA Tarannum Khatri

What is service tax | 11 important points to know

What is service tax? Are you service provider and not sure about service tax applicability, service tax rules and exemption? Read the post to know all the important points related to service tax. You will get insights of following points in this article: Definition and history of service tax Changes in the service tax rules Service tax registration procedure Steps to check Applicability of service tax Declared services under service tax which are taxable Activities not covered under service tax Negative list under service tax Service tax due dates for return and payment Issue of invoice under service tax...

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How to calculate interest on late payment of TDS u/s 200 (1A)

TDS ( tax deducted at source) payment is one of the important task in finance due to heavy interest on late payment of TDS and heavy fees on late filling of TDS return. In this post, you will learn following points: how to calculate interest on late payment of TDS u/s 201 (1A), How to calculate interest on late deduction of tax deducted at source How to calculate fees and penalty for late filling of tds return. HOW to calculate interest on late payment of TDS u/s 201 (1A)? To understand about calculation of interest on late payment of...

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Service tax on reimbursement expenses : 7 imp points

The finance bill 2015 has made amendment in section 67 regarding service tax on reimbursement expenses. In this article, you can get detailed explanation about the implication of this amendment on service tax value and service tax liability. Service tax on reimbursement of expneses Р7 important points Р budget 2015 updated: I am receiving lots of queries about service tax value and taxability of service tax on my blog. Determination of service tax taxable value requires understanding of service tax valuation rule 67. Service tax valuation rules. What is out of pocket or reimbursement expenses? What is pure...

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All about goods and service tax in India (GST)

Goods and service tax in India will be game changer for tax system. GST tax system will replace most of the indirect taxes. which taxes will be covered in gst? What will be advantages and disadvantages of GST?  What are the important points to know about GST ? Get answers by reading this post. What is goods and service tax ( GST) in India? Goods and service tax ( GST) is a comprehensive tax levy on manufacture, sale and consumption of goods and services at national level.GST is value added tax and covers indirect tax area. Goods and service...

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Service tax on good transport agency ( GTA) : 9 Important points

Service tax on good transport agency ( GTA) has been exempted fully for some time but after some time due to revenue loss the service has been made taxable again.In this post, you can get details explanation for each rule which touches GTA service. 9 important points on service tax on good transport agency ( GTA service): Good transport agency definition Consignment note imporance Exemption to GTA service under service tax Reverse charge mechanism in good transport agency service Abatement to good transport agency service Place of provision of service with regards to GTA Point of taxation of service...

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