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What is service tax in India?
The Service Tax in India is an indirect tax on all services, although there are some exclusions. In 2015, it was increased to 14%.
Is Service Tax direct tax?
no service tax is not a direct tax. b'coz direct tax is directly imposed on person and it can't be transfered on the other person. Service tax is levied on service provided and it is levied and collected from clients. so service tax is an Indirect Tax.
List of direct and indirect taxes?
In India... the list of direct and indirect taxes.. is as following.. Direct Tax: Income tax corporation tax property tax inheritence (estate) tax & gift tax Indirect tax: customs duty, central excise duty, service tax, sales tax, value added tax (VAT), securities transaction tax
Is petroleum tax a direct or indirect tax?
it is an indirect tax
Is import duty a direct tax or indirect tax?
indirect tax
What is entry for service tax on professional fees when you receive bill?
The service tax is a tax levied by the government on certain transactions that is passed on to the customer by the company doing the service. It is classified as an indirect tax and came into being through the Finance Act of 1994.
How do you calculate net indirect tax?
net indirect tax = tax - subsidies
Is the tax on your house indirect tax or direct tax?
excise taxA+
What are examples of indirect tax?
One example of indirect tax is Income Tax.
A sales tax on food items is what type of tax?
indirect tax
What is the purpose of service tax forms?
Service Tax is an indirect tax imposed in India on a wide range of specified services (custom house agent, dry cleaning, telephone, tour operators, etc.). As an indirect tax, the service provider pays the tax and recovers the amount from the recipient of the taxable service. The main Service Tax form is Form G.A.R. 7. All Service Tax forms are required to be filed even if no taxable service has been provided during the time period. The purpose of the forms is to meet the reporting requirements of the 1994 Finance Act and to certify that required payments are made timely.For more information, go to the Service Tax site, www.servicetax.gov.in.
Is an example of an indirect tax?
Income tax is a direct tax levied on your earnings. An indirect tax is the tax you pay if you buy something, after all, you don't have to buy the goods and so pay the indirect tax.
