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The service tax, a long-time corner stone of India's governmental revenue system, has been phasing out of implementation in the 21st century. The Finance Minister of India has said that it is a short-term goal of the Indian government to eventually merge the service tax into the country's general goods and service tax. The service tax aims to rake in government revenues by taxing all services provided within the country. It is India's Central Board of Excise and Customs that is in charge of administering the tax and overseeing it's implementation. If the surcharge is eventually merged fully with other goods and services taxes, the administering authority could change.
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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.
What is the meaning of service tax?
the tax imposed on the service providers by the govt. is called service tax
What can we do to not pay service tax?
If you do not want to pay service tax, then you should not obtain services that have a service tax. Service tax is a tax on certain services. The amount of services is increasing.
What is the present service tax rate?
till 31.3.2012 service tax rate : 10.30% from 1.4.2012 service tax rate : 12.36%
What is the difference between TDS and service tax?
TDS is Tax Deduction at Source which is deducted from the service holder/ consultant during payment. At present, TDS is 10.1%. Service tax is a tax payable on the service provided by the service provider, at present it is at 12.36%
Can you tax a service charge?
Establishments are adding tax to their service charges, is that legal?
What is the rate of service tax on international hotel booking service?
No tax is payable
When was Instant Tax Service created?
Instant Tax Service was created in 2000.
When was Liberty Tax Service created?
Liberty Tax Service was created in 1997.
What is cheque name for service tax?
Service tax is paid in Bank and the cheque in favour of the respective bank & ending with the word " service tax"For Eg: Payment of Service tax paid in SBI then the Cheque in favour of "SBI a/c Service Tax".RegardsP.D.Sankar Narayanan.Chennai+91 98402 56829
Is there a sales tax on a service?
Is there a sales tax on a service such as alterations on clothing? If any, what type of tax do you pay to the gov't?
What kind of tax is goods and service tax?
it is a tax based on value added...that is the same as VAT but the addition is that it converges service tax with VAT.
