- TG Team
- | Service Tax - Articles- Featured |
- 04 Jul 2012
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As per the Finance Bill, 2012, of Govt. of India, there have been vast changes in the taxation provisions relating to Service Tax. As per the new provisions, services of all types unless these have been specifically exempted in the negative list ( Vide Notification No. 25/2012-Service Tax Dated 20th June, 2012) , shall become chargeable to service tax. As a consequence, domain registration charges have also become chargeable to service tax.
The new provisions are applicable with effect from July 1, 2012
Tags: Budget
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Yes you need to pay ST for every domain and hosting service but not on total value.
Example:
Purchase made – Rs 1,00,000.
ST already paid – Rs 12,360.
Total purchase bill – Rs 1,12,360.
Sale Made – Rs 1,50,000.
ST charged on sale – Rs 18,540.
Total sale bill – Rs 1,68,540.
Net ST payable by you – 18,540 – 12,360 = Rs 6,180.
Hello, Thanks for the info…
I wan to know what sort of tax is there if domain is resold.
For eg, domain purchased xyz.com for Rs.500 with all taxes and then sold for Rs. 50,000
Do I need to pay just Income Tax or any other?
Thanks