service charges

Service tax on Legal Consultancy Service

Corporate Law - As per Service Tax Rules, 1994, ‘Legal Service’ means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority. ...

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Lease Rent Not Liable to Service Tax if Vat Is Charged

Corporate Law - A. PERCEPTIVE OF TERMING IT AS SALE Article 366(29A)(c) of Constitution: Such delivery of goods on hire purchase or any system of payment on installment shall be deemed as “Sale of Goods” 2. Power to levy tax on sales is vested to State Governments under Entry 54 of List II and thus VAT has been […]...

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Food Industry and Indirect taxes

Corporate Law - Once the products are produced by a farmer or dairy produce is made by a person, then many processes are being done on the same before the same is put to use for any other purpose. If because of such process on the products made results in a new, distinct product,...

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Service Receiver to Pay Service Tax under New reverses charge mechanism (Must Read)

Corporate Law - The Finance Bill, 2012 has massively rattled the provisions related to service tax enshrined in the Finance Act, 1994. A New reverse charge mechanism has been proposed by the Finance Bill, 2012. And by the latest Finance Bill, Section 68 (2) of the Finance Act, 1994 has been put under amendment to put the onus of payment of service tax on...

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Payments of service tax as also VAT are mutually exclusive

Corporate Law - Imagic Creative (P.) Ltd. v. Commissioner of Commercial Taxes Payments of service tax as also the VAT are mutually exclusive. Therefore, they should be held to be applicable having regard to the respective parameters of service tax and the sales tax as envisaged in a composite contract as contradistinguished from an indivisible contract. ...

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Service Charges are Discretionary/ Voluntary

Corporate Law - The Ministry of Consumer Affairs, Food and Public Distribution has issued advisory to all the State Governments/UTs to sensitise the companies, hotels and restaurants in the state regarding the relevant provisions of the Consumer Protection Act, 1986 on unfair trade practices...

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Advisory to State Governments on Levy of Service Charge by Hotels

Corporate Law - Government has received a number of complaints from consumers through the National Consumer Helpline that some hotels and restaurants have been levying service charge at the rate of 5-20 per cent on the bills of food and beverages in lieu of tips which a consumer is forced to pay irrespective of the kind of service provided to him....

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Restaurants billing ‘service charges’ in addition to taxes is optional

Corporate Law - Hotels and restaurants are charging 'service charge' in range of 5-20%, in lieu of tips, which a consumer is forced to pay irrespective of kind of service provided to him....

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Banks Should Display Info regarding interest rates and service charges On Website – RBI

Corporate Law - After advising banks to display information regarding interest rates and service charges on the notice board inside their all the branches, now the central bank has asked them to do the same thing on their website. For the purpose, RBI has also issued a format in which the bank should display the information on their websites. ...

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Any company whose principal business is banking or granting of loans and advances will not be attracted by explanation to section 73 of the IT Act, 1961

ITO Vs Bijay Paper Traders & Investments Ltd. (ITAT Delhi) - . In view of the above decision, the company whose principal business is that of granting of loans and advances, may earn a comparatively high income from some other activity in a particular year, merely because the income/loss from share trading in the year under consideration is higher than the in...

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Guidelines on Charging of Service Charges by Hotels / Restaurants

No. J- 24/9/2014-CPU(pt.) - (21/04/2017) - A component of service is inherent in provision of food and beverages ordered by a customer. Pricing of the product therefore is expected to cover both the goods and service components....

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RBI revised Service Charges for Cheque Collection – Local, Outstation and Speed Clearing

RBI/2010-11/377, DPSS.CO.CHD.No. 1671/03.06.01/2010-11 - (19/01/2011) - Charges fixed should be reasonable and computed on a cost-plus-basis and not as an arbitrary percentage of the value of the instrument. The service charges-structure should not be open ended and should clearly specify the maximum charges that would be levied on customers including charges if any, pa...

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Service tax valuation issues pertaining to Customs House Agents Service

Circular No. 119/13/2009-ST - (21/12/2009) - CIRCULAR NO 119/13/2009-ST- Customs House Agent’s (CHA) Services are taxable since 15th June 1997. As per the definition (section 65 (105) (h) of the Finance Act, 1994) the ‘taxable service’ means any service provided or to be provided to any person, by a custom house agent in relation to the ...

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Inclusion of After Sale Service and Pre-delivery Inspection Charges in the assessable value

Circular No. 909/29/09-CX - (11/12/2009) - Since these services are provided free by the dealer on behalf of the assessee, the cost towards this is included in the dealer's margin (or reimbursed to him). This is one of the considerations for sale of the goods (motor vehicles, consumer items etc.) to the dealer and will therefore be governed ...

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Financial Inclusion by Extension of Banking Services – Use of Business Correspondents (BCs) – Circular No. – DBOD.No.BL. 63/22.01.009/2009-10

RBI/2009-10/238 DBOD.No.BL. 63/22.01.009/2009-10 - (30/11/2009) - DBOD.No.BL. 63 /22.01.009/2009-10 - Banks are permitted to appoint the following entities as BCs, in addition to the entities presently permitted: (i) Individual kirana/medical /fair price shop owners (ii) Individual Public Call Office (PCO) operators (iii) Agents of Small Savings schemes of Govern...

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Recent Posts in "service charges"

Guidelines on Charging of Service Charges by Hotels / Restaurants

No. J- 24/9/2014-CPU(pt.) (21/04/2017)

A component of service is inherent in provision of food and beverages ordered by a customer. Pricing of the product therefore is expected to cover both the goods and service components....

Read More

Service Charges are Discretionary/ Voluntary

The Ministry of Consumer Affairs, Food and Public Distribution has issued advisory to all the State Governments/UTs to sensitise the companies, hotels and restaurants in the state regarding the relevant provisions of the Consumer Protection Act, 1986 on unfair trade practices...

Read More
Posted Under: Fema / RBI |

Advisory to State Governments on Levy of Service Charge by Hotels

Government has received a number of complaints from consumers through the National Consumer Helpline that some hotels and restaurants have been levying service charge at the rate of 5-20 per cent on the bills of food and beverages in lieu of tips which a consumer is forced to pay irrespective of the kind of service provided to him....

Read More
Posted Under: Fema / RBI |

Restaurants billing ‘service charges’ in addition to taxes is optional

Hotels and restaurants are charging 'service charge' in range of 5-20%, in lieu of tips, which a consumer is forced to pay irrespective of kind of service provided to him....

Read More
Posted Under: Fema / RBI |

Service tax on Legal Consultancy Service

As per Service Tax Rules, 1994, ‘Legal Service’ means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority. ...

Read More
Posted Under: Fema / RBI |

Lease Rent Not Liable to Service Tax if Vat Is Charged

A. PERCEPTIVE OF TERMING IT AS SALE Article 366(29A)(c) of Constitution: Such delivery of goods on hire purchase or any system of payment on installment shall be deemed as “Sale of Goods” 2. Power to levy tax on sales is vested to State Governments under Entry 54 of List II and thus VAT has been […]...

Read More
Posted Under: Fema / RBI |

Food Industry and Indirect taxes

Once the products are produced by a farmer or dairy produce is made by a person, then many processes are being done on the same before the same is put to use for any other purpose. If because of such process on the products made results in a new, distinct product,...

Read More
Posted Under: Fema / RBI |

Service Receiver to Pay Service Tax under New reverses charge mechanism (Must Read)

The Finance Bill, 2012 has massively rattled the provisions related to service tax enshrined in the Finance Act, 1994. A New reverse charge mechanism has been proposed by the Finance Bill, 2012. And by the latest Finance Bill, Section 68 (2) of the Finance Act, 1994 has been put under amendment to put the onus of payment of service tax on...

Read More
Posted Under: Fema / RBI |

RBI revised Service Charges for Cheque Collection – Local, Outstation and Speed Clearing

RBI/2010-11/377, DPSS.CO.CHD.No. 1671/03.06.01/2010-11 (19/01/2011)

Charges fixed should be reasonable and computed on a cost-plus-basis and not as an arbitrary percentage of the value of the instrument. The service charges-structure should not be open ended and should clearly specify the maximum charges that would be levied on customers including charges if any, payable to other banks....

Read More

Any company whose principal business is banking or granting of loans and advances will not be attracted by explanation to section 73 of the IT Act, 1961

ITO Vs Bijay Paper Traders & Investments Ltd. (ITAT Delhi)

. In view of the above decision, the company whose principal business is that of granting of loans and advances, may earn a comparatively high income from some other activity in a particular year, merely because the income/loss from share trading in the year under consideration is higher than the interest income,...

Read More
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