service tax in india assessment year 2010-11

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rules , tax , deffinition

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Presentation Transcript

SERVICE TAX : 

SERVICE TAX BY GYAN AGNIHOTRI 7/19/2010 1

EXTENT,COMMENCEMENT AND APPLICATION.SECTION 64 : 

EXTENT,COMMENCEMENT AND APPLICATION.SECTION 64 This chapter extends whole India except the state of Jammu and Kashmir. It shall apply to taxable service provided. The provision of chapter v finance act 1994 have been extended to the designated area continental shelf and exclusive zone of India. 7/19/2010 2

Registration rule 4 of service tax rules,1994 : 

Registration rule 4 of service tax rules,1994 When to get registered- Every person liable for paying the service tax shall make an application to the superintendent of central excise in form ST-1 for registration within 30 days from the date of which the service tax levied. 7/19/2010 3

Multiple premises : 

Multiple premises Where an assessee is providing a taxable service from more than one premises and has centralized billing or accounting system , He may at his option , register such premise from where such centralized billing system is done . 7/19/2010 4

Certificate of registration : 

Certificate of registration The superintendent shall After verification of the application or intimation under (5A) grant a certificate of registration in form ST-2. Within 7 days from the date of receipt of the application or intimation 7/19/2010 5

Issue of invoice by service provider and ISD rule 4A : 

Issue of invoice by service provider and ISD rule 4A Every person providing taxable service shall not later than fourteen days From receipt of any payment for service Or from the date of completion of such taxable service which ever is earlier Must issue an invoice a bill or challan signed by such person and such invoice serially numbered and contain each and every particular regarding service. 7/19/2010 6

Payment of service tax 1994rule 6 : 

Payment of service tax 1994rule 6 Due date for payment – The service tax shall be paid by the 6th of month if the day is deposited thriough internet banking. 5th of the month in any other case Following the calendar month in which the payment is recived. 7/19/2010 7

Deposit of tax : 

Deposit of tax The assesse shall deposit the service tax with bank designated by CBEC in form of GAR-7 provided that the assesse who has paid service tax 10 lacks or more in preceding/current year shall deposit the tax liable to be paid electronically . 7/19/2010 8

Records rule 5 : 

Records rule 5 The records including computerized as maintained by an assessee in accordance with the various rule enforce from time shall be acceptable. Every assesse shall furnish to the superiendent at the of filing his return for the first time a list in duplicate of all records. All such records shall be preserved at least 5 year . 7/19/2010 9

Access to registered premiserule 5A : 

Access to registered premiserule 5A An officer authorized by the commissioner shall have access to any premise registered under this rule for the purpose of safeguarding the interest of revenue. Every assessee shall on demand make available information to who has been authorized. 7/19/2010 10

Furnishing of returnsection 70 : 

Furnishing of returnsection 70 Every person liable to pay service tax shall himself assess the tax due on the services provided by him and shall furnish a return in such form and at such frequency as may be prescribed and with late fee not exceeding 2000 for delayed filing of return as may be prescribed. 7/19/2010 11

Rule 7Cpenalty for delay in furnishing return : 

Rule 7Cpenalty for delay in furnishing return Period of delay from the date of submission less than 15 days 500 more than 15 days but less than 30 days 1000 more than 30 days 1000plus 100 each days excess of 30 days subjected to total amount not exceed 2000. 7/19/2010 12

Revised returnrule 7B : 

Revised returnrule 7B An assesse may submit a revised return in form ST-3 in triplicate to correct a mistake or omission within a period of 90 days from the date of submission of the return under rule 7. 7/19/2010 13

Power of search premises section 82 : 

Power of search premises section 82 If the commissioner of central excise has reason to believe that any document or books or thing which will be useful for to any proceeding under this chapter are secreted in any palace ,he may authorize any other AC/DC to search or may himself search for document or books of thing. Provision of code of criminal procedure 1973 relating to search shall apply to search under this section as they apply to search under that code. 7/19/2010 14

Service tax return prepares section 71 : 

Service tax return prepares section 71 The board may frame a scheme enabling to prepare and furnish a return u/s70 through a service tax return Scheme framed shall specify in manner which the service tax return prepare shall assist the person furnishing the return of income. 7/19/2010 15

Charge of service tax section 66 : 

Charge of service tax section 66 Tax shall be levied @12value of taxable service. Education cess levied u/s91. Shall be rate of @2 and followed by 1 percent higher education cess. 7/19/2010 16

Valuation of taxable service for charging service tax section 67 : 

Valuation of taxable service for charging service tax section 67 For charging service tax the value shall be Consideration in money the gross amount charged by the service provided or too be provided by him. Consideration wholly or partly in non monetary terms Consideration not ascertainable amount determined in prescribed manner 7/19/2010 17

Service tax determination of value rule 2006,manner of determination of value rule 3 : 

Service tax determination of value rule 2006,manner of determination of value rule 3 (a)The value shall be the gross amount; charged by service provider to provide similar service to any other person in ordinary course of trade and gross amount charged is the sole consideration . (b)where value cannot determined in clause a Service provider shall determine equivalent money value of such consideration. 7/19/2010 18

Rejection of valuerule 4 : 

Rejection of valuerule 4 1.central excise officer can satisfy himself as to the accuracy of any information furnished or document presented for valuation. He is not satisfy he can issue show cause notice why the value of such service should not be fixed at the amount specified in the notice. The officer shall after providing reasonable opportunity of being heard determine the value of such taxable service 7/19/2010 19

Inclusion from value of certain expenditure or cost rule 5 : 

Inclusion from value of certain expenditure or cost rule 5 Where cost are incurred in course of providing service. All such cost will be treated as consideration. And shall be included. 7/19/2010 20

Exclusion of certain cost rule 5 : 

Exclusion of certain cost rule 5 Cost of purchase of good. As pure agent of the receiver of service. 7/19/2010 21

Service tax rules 2005special category : 

Service tax rules 2005special category The ISD shall make an application for registration within 30 days of the ccb Any provider of taxable service in financial year exceed 9 lacks shall make an application within 30 days . 7/19/2010 22

Export of taxable service rule 3 : 

Export of taxable service rule 3 If any service are provided in relation to an immovable property which is situated in outside India. Provided further that where, Technical testing and analysis service, management ,maintenance or repair service Technical inspection and certification service. Is provided through internet or any other means. Any taxable service provided from India and used outside India. Payment of such service is received in convertible foreign exchange. 7/19/2010 23

Rule 4,export without payment of service tax : 

Rule 4,export without payment of service tax Any service may be exported without payment of service tax. 7/19/2010 24

Rebate of service tax ,rule 5 : 

Rebate of service tax ,rule 5 Central government may grant rebate on such taxable service. Rebate shall be subject to specified condition or limitation and procedure. 7/19/2010 25

Exemption : 

Exemption Export of service tax rule 2005. Service rendered to UNO or international organization. Diplomatic mission or its family member Units of SEZ subject to condition. 7/19/2010 26

Import of service rule 3 : 

Import of service rule 3 Taxable service provided from outside and received in India. Service related to immoveable property. 7/19/2010 27 Provided further that where, Technical testing and analysis service, management ,maintenance or repair service Technical inspection and certification service. Is provided through internet or any other means. Any taxable service provided from India and used outside India. Payment of such service is received in convertible foreign exchange.

Payment of service tax section 68 : 

Payment of service tax section 68 Every person providing taxable service is liable to service tax in specified manner. 7/19/2010 28

Thanks : 

Thanks 7/19/2010 29