Service Tax News, Articles, Notifications and Forms

The following services relating to transportation of passengers, with or without accompanied belongings, have been specified in the Negative List. Services by: • a stage carriage; • railways in a class other than (i) first class; or (ii) an AC coach; • metro, monorail or tramway; • inland waterways; Full Article

Financial sector Services Covered in Negative List –Services by way of – (i) extending deposits, loans or advances insofar as the consideration is represented by way of interest or discount; (ii) inter se sale or purchase of foreign currency amongst banks or authorized dealers of foreign exchange or amongst banks and such dealers; Full Article

‘Renting’ has been defined in section 65B as ‘allowing, permitting or granting access, entry, occupation, usage or any such facility, wholly or partly, in an immovable property, with or without the transfer of possession or control of the said immovable property and includes letting, leasing, licensing or other similar arrangements in respect of immovable property’. Full Article

Although the negative list approach largely obviates the need for descriptions of services, such descriptions continue to exist in the following areas - • In the negative list of services. • In the declared list of services. • In exemption notifications. Full Article

In case of Individuals or Proprietary Concerns and Partnership Firm, service tax is to be paid on a quarterly basis. The due date for payment of service tax is the 5th of the month immediately following the respective quarter ( in case of e-payment, by 6th of the month immediately following the respective quarter). For this purpose, quarters are: April to June, July to September, October to December and January to March. However, payment for the last quarter i.e. January.. Full Article

Specified services relating to education - The following services relating to education are specified in the negative list - • pre-school education and education up to higher secondary school or equivalent • education as a part of a prescribed curriculum for obtaining a qualification recognized by law for the time being in force; Full Article

Charity Services -Services by an entity registered under section 12AA of the Income tax Act, 1961 (43 of 1961) by way of charitable activities; You are doing charitable activities if you are registered with income tax authorities for this purpose under section 12AA the Income-tax Act, 1961 and carry out one or more of the specified charitable activities. Following are the specified charitable activities:— Full Article

If charges are collected by a developer or a housing society for distribution of electricity within a residential complex then are such services covered under Negative List? Full Article