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Category: service tax

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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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 – 7 important points –  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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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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service tax on tour operator and air travel agent

Service tax on tour operator and service tax on travel agent both are covered under different rules. In this article, we will understand these rules. The article is also helpful for common man to understand service tax on travelling expenses and tour packages.You can understand following points in this article: Definition of tour operator, tour, tour vehicle etc. DIfference between tour operator and travel agent. service tax on tour operator service. Abatement and rate of service tax for tour operator service. Service tax on air travel agent and travel agent. Composition scheme for air travel agent. Place of provision...

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Service tax rate chart for fy 2016-17 : with new service tax rate 15%

Service tax rate from 1st June, 2016 is 15% with krishi kalyan cess. I have given here service tax rate chart for FY 2016-17 to describe rate on various services with abatement and reverse charge mechanism – updated with budget 2016 changes. ( Service tax will be replaced with GST from 1st July, 2017. Know latest gst rate here) Note: Budget 2016 has increased service tax rate from 14.5% to 15% by levying Krishi Kalyan Cess at 0.5% . This change will be effective from 1st June, 2016. Till that you can use chart given below to decide service tax rate.    Service tax rate chart for fy 2016-17 with new service tax rate 15%:(applicable from 1/6/2016- with krishi kalyan cess) Service provided Amount( 1) Abatement rate or Exemption rate( 2) Value after abatement( 3=1-2) Service tax payable (3*15%) Effective rate to be charged on bill*( 4) =15%-abatement rate Conditions to be followed to claim abatement or exemption Tour operator service   Accommodation booking 10,000 90% 1000 150 1.50% No cenvat credit for input, input services or capital goods.Invoice includes amount of accommodation. tour (other than above) * 10,000 70% 3000 450 4.50% No cenvat credit for input, input services or capital goods. Transport of goods by rail by person other than Indian railway 10.000 60% 4000 600 6% No cenvat credit for input, capital goods. cenvat credit on input services are...

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