Service Tax : As per Service Tax Rules, 1994, ‘Legal Service’ means any service provided in relation to advice, consultancy or assistance in...
Service Tax : A. PERCEPTIVE OF TERMING IT AS SALE Article 366(29A)(c) of Constitution: Such delivery of goods on hire purchase or any system of ...
Service Tax : 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 be...
Service Tax : The Finance Bill, 2012 has massively rattled the provisions related to service tax enshrined in the Finance Act, 1994. A New rever...
Goods and Services Tax, Service Tax : Imagic Creative (P.) Ltd. v. Commissioner of Commercial Taxes Payments of service tax as also the VAT are mutually exclusive. Ther...
Income Tax : The Ministry of Consumer Affairs, Food and Public Distribution has issued advisory to all the State Governments/UTs to sensitise t...
Service Tax : Government has received a number of complaints from consumers through the National Consumer Helpline that some hotels and restaura...
Service Tax : Hotels and restaurants are charging 'service charge' in range of 5-20%, in lieu of tips, which a consumer is forced to pay irrespe...
Fema / RBI : After advising banks to display information regarding interest rates and service charges on the notice board inside their all the ...
Income Tax : . In view of the above decision, the company whose principal business is that of granting of loans and advances, may earn a compar...
Corporate Law : A component of service is inherent in provision of food and beverages ordered by a customer. Pricing of the product therefore is e...
Fema / RBI : Charges fixed should be reasonable and computed on a cost-plus-basis and not as an arbitrary percentage of the value of the instru...
Service Tax : CIRCULAR NO 119/13/2009-ST- Customs House Agent’s (CHA) Services are taxable since 15th June 1997. As per the definition (sectio...
Excise Duty : Since these services are provided free by the dealer on behalf of the assessee, the cost towards this is included in the dealer's ...
Fema / RBI : DBOD.No.BL. 63 /22.01.009/2009-10 - Banks are permitted to appoint the following entities as BCs, in addition to the entities pre...
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 entry or departure of conveyance or the import or the export of goods and the term ‘service provider’ shall be construed accordingly.
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 by Rule 6 of the Valuation Rules on the same grounds as indicated in respect of Advertisement and Publicity charges. That is, in such cases the after sales service charges and PDI charges will be included in the assessable value.
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 Government of India/Insurance Companies (iv) Individuals who own Petrol Pumps (v) Retired teachers and (vi) Authorised functionaries of well run Self Help Groups (SHGs) linked to banks.
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.
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. It may consist of different elements providing for attracting different nature of levy. It was, therefore, difficult to hold that in a case of instant nature, sales tax would be payable on the value of the entire contract, irrespective of the element of service provided. The approach of the assessing authority, thus, appeared to be correct.
