games of chance

CBEC has notified 8 new taxable Services w.e.f. 1.7.2010 vide Notification No.24/2010-Service Tax dated 22.6.2010. The following are the new taxable Services introduced w.e.f. from 1.7.2010. 1. Games of chance (zzzzn),2 Health services (zzzzo), ,3 Maintenance of medical records (zzzzp) Full Article

This article summarizes the service tax notifications issued in context of the effective date of implementation of the Finance Act, 2010. Finance Act, 2010 received Presidential assent on 8 May 2010 and eight new services have been brought within the ambit of service tax. Notification no. 24/2010 dated 22 June 2010 has specified the effective date of operation of the Finance Act 2010, as 1 July 2010. Full Article

It is proposed to insert clause (zzzzn)in Section 65(105) of the Finance Act,1994(as amended from time to time)[hereinafter referred to as “the Act”] so as to define taxable service as “any service provided or to be provided to any person, by any other person, for promotion, marketing, organizing or in any other manner assisting in organising games of chance, including lottery, Bingo or Lotto, in whatever form or by whatever name called , whether or not conducted t.. Full Article

Services of promoting of a brand of goods, services, event, business entity etc is now proposed to be under service tax net from a notified date (not now). According to new clause (zzzq) of section 65(105) of Finance Act, 1994, any service provided or to be provided to any person, by any other person, through a business entity or otherwise, under a contract for promotion or marketing of a brand of goods, service, event or endorsement of name, including a trade name, logo.. Full Article

Hon’ble Finance Minister Shri Pranab Mukharjee has introduced the Finance Bill, 2010 in the Lok Sabha on the 26th of February, 2010. Clause 75 and 76 of the said bill covers the legislative changes relating to Chapter V of Finance Act, 1994 (i.e. Service Tax). While some fresh exemptions from service tax have been granted, some existing exemptions have either been withdrawn or modified. All these changes have been notified under notification nos. 2/201 0–ST to 17/201.. Full Article

The Supreme Court today has dismissed the appeal of Union of India against the  judgement  in case of Martin Lottery Agencies Ltd. earlier given by  Sikkim High CourtAs a result of dismissal of appeal filed by the Government; the show cause notices demanding service tax of over Rs 2200 Crore from Lottery Agents are liable to [...] Full Article