Goods and Services Tax : Arjuna, as you know, sale of immovable property like land and building is not chargeable to Tax under GST. Also renting of residen...
Goods and Services Tax : The aggregate turnover is a crucial parameter for deciding the eligibility of a supplier to avail the benefit of exemption thresho...
Service Tax : Prior to 01/07/2012, transportation of goods service was taxable under the categories of transportation of coastal goods, goods tr...
Service Tax : Transport of Goods by Rail Service means any service provided or to be provided to any person, by any other person, in relation to...
Goods and Services Tax : These GST Flyers have now been updated as on 1st January, 2018, in view of the significant developments since the time they were r...
Service Tax : In compliance of the provisions contained in Finance Bill 2010 and subsequent notifications issued by Ministry of Finance, the Ser...
Service Tax : The Ministry of Finance has issued Notification No. 43/2012-St, dated 2-7-2012 which states that the Central Government, on being...
Service Tax : Service tax on passenger travel and freight was introduced in the general budget for 2009-10, but was kept on hold due to the then...
Service Tax : Close on the heels of railways increasing parcel rates by 25 per cent, the freight charges will go up by about 3.6 per cent from J...
Service Tax : CESTAT Kolkata quashes the service tax demand on cargo handling service in the case of Usha Martin Limited vs. Commissioner of Cen...
Service Tax : Notification No.57/2010-Service Tax, Dated- 21st December, 2010 G.S.R. (E).- In exercise of the powers conferred by sub-section ...
Service Tax : In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred t...
Service Tax : Notification No. 35/2010-Service Tax, dated 22-6-2010- Section 65(105)(zzzp) of the Finance Act, 1994 - Transport of goods by rail...
Service Tax : Notification No. 34/2010-Service Tax, dated 22-6-2010- In exercise of the powers conferred by sub-section (1) of section 93 of the...
Service Tax : Notification No. 33/2010-Service Tax, dated 22-6-2010- In exercise of the powers conferred by sub-section (1) of section 93 of the...
CESTAT Kolkata quashes the service tax demand on cargo handling service in the case of Usha Martin Limited vs. Commissioner of Central Excise. Details and analysis.
Arjuna, as you know, sale of immovable property like land and building is not chargeable to Tax under GST. Also renting of residential property is Exempt from the levy of tax. But renting of commercial properties like shops, offices, etc, are taxable. Taxpayers were in confusion that transfer of tenancy rights against premium should be liable to GST or not. Hence, to clarify this issue the department has come up with this circular.
The aggregate turnover is a crucial parameter for deciding the eligibility of a supplier to avail the benefit of exemption threshold of Rs. 20 Lakhs [Rs.10 Lakhs in case of special category States except J & K] and for determining the threshold limit for composition levy.
These GST Flyers have now been updated as on 1st January, 2018, in view of the significant developments since the time they were released. NACIN is now coming out with this compilation containing all the 51 Flyers released till date for ease of reference. This compilation will continue to spread awareness of GST not only among the Tax officers and taxpayers but also people at large.
Prior to 01/07/2012, transportation of goods service was taxable under the categories of transportation of coastal goods, goods transported through nation waterways and inland waterways, transportation of goods by air, transportation of goods by Rail and transportation of goods through pipelined or other conduit service.
In compliance of the provisions contained in Finance Bill 2010 and subsequent notifications issued by Ministry of Finance, the Service Tax in case of transportation of goods by rail, which was exempted upto 30th September 2012, would now be levied on total freight charges with effect from 1st October 2012.
The Ministry of Finance has issued Notification No. 43/2012-St, dated 2-7-2012 which states that the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the two kinds of services provided by Indian Railways namely Service of transportation of passengers (with or without accompanied belongings) in 1st class or in Air Conditioned Coach and services by way of transportation of goods, from the whole of service tax leviable thereon under section 66-B of the Finance Act 1994. The exemption would be effective upto 30th September 2012.
Service tax on passenger travel and freight was introduced in the general budget for 2009-10, but was kept on hold due to the then Railway Minister Mamata Banerjee’s opposition. The exemption has been extended since then on quarterly basis but this time the Finance Ministry has decided to exclude freight charges and AC rail travel from the negative list, which gets service tax exemption.
Close on the heels of railways increasing parcel rates by 25 per cent, the freight charges will go up by about 3.6 per cent from July 1 with imposition of service tax. The government had given service tax exemption on goods carried by railways till June 30, 2012. From July 1 using railways to transport goods will come under service tax net.
Transport of Goods by Rail Service means any service provided or to be provided to any person, by any other person, in relation to transport of goods by rail, in any manner. Transport of goods in containers by rail- The levy is on transport of goods in containers by rail. Service provided by Indian Railways is excluded. Suitable abatement for the amount paid by such service providers to railways for haulage services will be prescribed separately. The levy will, therefore, be restricted only to that portion of the consideration received and retained by the service provider for the services provided.
