CA Nitin Gupta

Brief Note of Renting of Immovable Property under Service Tax

Service Tax - Renting of Immovable property has been taxed under the earlier tax regime vide Section 65 (105) (zzzz). Renting of immovable property has been brought into tax net vide Notification No. 23/2007-ST dated 01.06.2007. But After 1.7.2012, the transition involves shift from taxation of 119 service-specific descriptions to a new regime whereby ...

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Service Tax – Analysis of Negative List

Service Tax - In terms of Section 66B of the Act, service tax will be leviable on all services provided in the taxable territory by a person to another for a consideration other than the services specified in the negative list. Due to Section 66B, the regime of service tax from taxable 119 services to 17 services under negative list. Meaning thereby th...

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Reverse Charge Mechanism with Relevant POPS Rules

Service Tax - CA Nitin Gupta 1. INTRODUCTION OF REVERSE CHARGE MECHANISM Reverse charge mechanism is not a new concept in service tax. Under the reverse charge mechanism, instead of service provider, the service receiver is liable to pay service tax. But with effect from 1.7.2012 a new scheme of taxation is being brought into effect whereby the [&helli...

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Billing System & Accounting Treatment in Case of Reverse Charge of Service Tax

Service Tax - CA Nitin Gupta IN CASE OF SERVICE RECEIVER IN CASE OF REVERSE CHARGE • WHERE PAYMENT IS MADE TO THE SERVICE PROVIDER, WITHIN 6 MONTHS FROM THE DATE OF INVOICE   POT = PAYMENT BASIS •WHERE PAYMENT IS NOT MADE TO THE S.P., WITHIN 6 MONTHS FROM THE DATE OF INVOICE...

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Download PPT on Point of Taxation Rules

Service Tax - Point of Taxation Rules -Is it determining the taxable event for levy of Service Tax (i.e. service deemed to be provided). RULE 2A - Date of payment.— For the purposes of these rules, date of payment shall be the earlier of the dates on which the payment is entered in the books of accounts or is credited to the bank account of the perso...

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Recent Posts in "CA Nitin Gupta"

Brief Note of Renting of Immovable Property under Service Tax

Renting of Immovable property has been taxed under the earlier tax regime vide Section 65 (105) (zzzz). Renting of immovable property has been brought into tax net vide Notification No. 23/2007-ST dated 01.06.2007. But After 1.7.2012, the transition involves shift from taxation of 119 service-specific descriptions to a new regime whereby ...

Read More
Posted Under: Service Tax |

Service Tax – Analysis of Negative List

In terms of Section 66B of the Act, service tax will be leviable on all services provided in the taxable territory by a person to another for a consideration other than the services specified in the negative list. Due to Section 66B, the regime of service tax from taxable 119 services to 17 services under negative list. Meaning thereby th...

Read More

Reverse Charge Mechanism with Relevant POPS Rules

CA Nitin Gupta 1. INTRODUCTION OF REVERSE CHARGE MECHANISM Reverse charge mechanism is not a new concept in service tax. Under the reverse charge mechanism, instead of service provider, the service receiver is liable to pay service tax. But with effect from 1.7.2012 a new scheme of taxation is being brought into effect whereby the [&helli...

Read More

Billing System & Accounting Treatment in Case of Reverse Charge of Service Tax

CA Nitin Gupta IN CASE OF SERVICE RECEIVER IN CASE OF REVERSE CHARGE • WHERE PAYMENT IS MADE TO THE SERVICE PROVIDER, WITHIN 6 MONTHS FROM THE DATE OF INVOICE   POT = PAYMENT BASIS •WHERE PAYMENT IS NOT MADE TO THE S.P., WITHIN 6 MONTHS FROM THE DATE OF INVOICE...

Read More

Download PPT on Point of Taxation Rules

Point of Taxation Rules -Is it determining the taxable event for levy of Service Tax (i.e. service deemed to be provided). RULE 2A - Date of payment.— For the purposes of these rules, date of payment shall be the earlier of the dates on which the payment is entered in the books of accounts or is credited to the bank account of the perso...

Read More

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