IN THE SUPREME COURT OF INDIA CIVIL APPELLATE …
3 Prior to the enforcement of the Goods and Services Tax 5 regime, service tax on ocean freight was exempted by Notification No. 25/2012ST (Serial No. 34) dated - 20 June …
Applicability of service tax on commision agent
If this service similar to Insurance agent service, surely its coming under the Reverse Charge as per Notification No: 30/2012 dated 20.06.2012. In view of the aforesaid Notification, Service Tax liability belongs Service Receiver i.e. Insurance company who's carrying on Insurance Business.
Service tax on Services Provided 'by' & 'to' Government
It is restricted to "support services" (SS) only. It means that SS provided by the GoI and local authority are taxable under RCM. This also gets confirmed by point no. 4.1.6 of the guidance Note which reads as follow: 4.1.6 Would a department of the Government need to get itself registered for each of the services listed in answer to Q.
Non-Authorised service station not liable to pay Service tax …
While authorised service stations are liable to Service tax under separate category, exclusion from Section 65(64) is intended for small workshops; thus, exclusion of motor vehicle would mean exclusion of 'parts' as well and therefore, the Assessee and other service/maintenance centre or workshop doing maintenance or repairs of any part of ...
Application of service tax to the Mining Sector – Need …
service tax paid on services acquired for use as inputs to mining. The non-deductible input taxes get embedded in the cost of the mineral supply, resulting in tax cascading and …
Royalty, being a tax in nature, not leviable to service tax …
The CESTAT Chennai bench has held that service tax cannot be levied on the amount of royalty paid by the appellant to the state government for the assignment of the right to …
Mineral Rights & Royalties Tax Guide | Flat River Minerals
The rate is 15% for single people earning between $80,000 and $441,450. Those who earn more than $441,451 each year pay a rate of 20%. According to the Internal Revenue Service (IRS), income taxes on mineral rights royalties work a bit differently. Capital gains taxes apply to the sale of mineral rights.
CESTAT Set Aside Demand Of Service Tax On Ocean Freight …
The Chennai Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) consisting of Sulekha Beevi C.S. (Judicial Member) and P. Anjani Kumar (Technical Member) has held that the...
Mineral Rights & Royalties Tax Guide | Flat River Minerals
Do you pay taxes on mineral rights? Are you taxed if you sell minerals? Read our Mineral Rights Tax Guide for answers to your questions.
Tax on Royalty payable to State Govt on natural resource
With specific clarification being made by CBEC vide its circular 192/02/2016-St dated 13 th April, 2016, whereby they have specified that service tax shall be payable on Royalty. In the light of above, we understand that a business entity have couple of choices i.e. a) pay service tax on royalty under RCM and enjoy its Cenvat credit resulting ...
Service Tax Rate Chart With Effect From 01.06.2016 | TaxGuru
Rate of Service tax would eventually increases to 15% w.e.f. June 1, 2016: After levy of KKC, Service tax rate would increase from 14.5% to 15%, effective from June 1, 2016. An illustration showing levy of Service tax and SB Cess & KKC is given below assuming Rs. 1,000/- as value of a taxable service: Particulars. Tax/ Cess (Rs.)
Service Tax on Rent-A-Cab Service – A Guide
The service receiver shall pay service tax @ 4.944% (i.e. 12.36% of 40% Value) only when reverse charge is applicable. His liability to pay service tax is not affected by cenvat credit availed or not availed …
Constitutionality of GST on royalties for mining …
Royalty qualifies as tax: It is a settled position of law that royalty paid under a mining lease is in the nature of tax and thus GST/service tax cannot be imposed on royalty since a tax cannot be in …
What is Service tax in India and the taxed services in India
Service tax in India. Service tax in India is an important form of indirect tax. The Central Board of Excise and Customs (CBEC) has the responsibility of collecting the levy in different states in India. It is not imposed in the state of Jammu and Kashmir. Currently, the rate is 14%.
Anticipated Direction of Forthcoming Proposed …
climate change in our nation's history and includes tax incentives designed to lower costs for working families, grow the clean energy economy, and strengthen America's supply chains. It introduces a number of significant changes, which phase in over time, to the credit for new clean vehicles under section 30D of the Internal Revenue Code.
The Landowner's Guide to Mineral Rights in Ohio
Owning mineral rights means you have the right to develop and produce the mineral interests under your land. Ohio law allows for split-estate arrangements, which severs surface rights from mineral rights. A split estate would mean you hold the surface rights while someone else owns the mineral rights. Here's the difference between the two:
Circular No. 164 /20 /2021-GST CBIC-190354/207/2021 …
erstwhile positive list based service tax regime. 8.3 It is relevant to note in this context that Schedule II of CGST Act, 2017 declares supply of any goods without transfer of title as supply of service even if right to use is transferred. Transfer of right to use has been declared as a supply of service [Schedule II, Entry 5(f) refers]
All about service tax on Restaurant Service
Restaurant service – An exemption @ 70% of the gross value i.e. the total price charged by the restaurant has been given by amending the Notification /2006-ST, dated 01/03/2006 vide Notification No. 34/2011 -ST, dated 25/04/2011. The exemption is available provided no Cenvat credit is availed either of inputs or inputs services.
SC Judgment in Mohit Minerals & Refund of IGST under RCM on
Briefing of the judgment: 1) The Hon'ble Supreme Court in Union of India & Anr. v. M/s Mohit Minerals Pvt. Ltd. [Civil Appeal No. 1390 of 2022 dated May 19, 2022] upheld the judgement pronounced by the Hon'ble Gujarat High Court and held that no IGST is payable on ocean freight under Reverse Charge Mechanism (RCM) on contracts of …
GST on Mining Royalty
In this article, the authors discussed the concept of levy of Royalty on Mineral Deposits and its taxability under Service Tax and GST in light of judicial …
Service Tax on Reimbursement of Expenditure- Applicability
Service Tax on Reimbursement of Expenditure- Applicability & Case Laws. R. Kumar, B. MBA (Finance) Applicability. Service tax was introduced vide the Finance Act, 1994 and since then the same has undergone with various changes and modifications in its growth from infancy to literal maturity. Service Tax has maintained …
Minerals
Rate of Tax. Sulphur: $1.03 per long ton of 2,240 pounds. Salt: $0.06 per ton of 2,000 pounds. Marble: $0.20 per ton of 2,000 pounds. Stone: $0.03 per ton of 2,000 pounds. Sand: $0.06 per ton of 2,000 pounds. Shells: $0.06 per ton of 2,000 pounds. Salt content in brine, when used in the manufacture of other products and not marketed as salt: $0 ...
Service Tax – Point of taxation rules (POT)- At a glance
dear sir pls guide me in the following issues. as on 18/01/2015 Service tax department determined demand as we have not submitted/ deposited service tax. on the matter we deposited the service tax as we received payment from client. but now the demand raised by department is on the basis of 26-As thus pls guide me how to …
Comprehensive Analysis of Service Tax & GST
As large amounts are being paid as royalty towards mining rights, the tax exposure under service tax and GST are on a higher side and reeling the industry players. In this backdrop, an attempt is made to …
Service Tax on Goods Transport Agency (GTA) – A Guide
Service Tax is, as the name suggest, a tax on services. It is an indirect tax, akin to excise duty and sales tax, where the incidence of tax is passed on to the consumer. It is significantly different from excise duty and sales tax, where the tax is levied on goods, which are tangible. The taxable event for levy of service tax is the rendering ...
Whether Service Tax Payable On Constructed Area Falling To The …
Commissioner o f Central Excise a n d Service Tax (21.08. 2019 – CESTAT – Delhi): MANU / CE / 0 269 / 2019 has held as under: – In the circumstances, we find that there is no element of service involved in the transaction, undertaken by the appellant while acquiring the land and transferring the same to the JV company, for setting up ...
Service Tax in India: Brief History and Meaning of 'Service'
The Service Tax was introduced in India around 21 years back on July 1, 1994 at the recommendations of Dr. Raja Chelliah Committee on tax reforms. ... 1994 (as introduced by the Finance Act, 2012 w.e.f. 01.07.2012) defines the word 'Service' as under: "Service means any activity carried out by a person for another for consideration and ...
Service Tax
The rate of service tax is 6% ad valorem for all taxable services and digital services except for the provision of charge or credit card services. Service tax for the provision of charge or credit card services is RM25 per year on each principal card or supplementary card. It is proposed that the service tax rate will be increased from 6% to 8% ...
Communications Service Tax (CST) – GRA
The Communications Service Tax (CST) is one levied on charges for the use of communications services that are provided by electronic communications service providers. CST is imposed under Section 1 of the. Communications Service Tax Act 2008, (Act 754 ), CST (Amendment) Act, 2013 (Act 864) and CST (Amendment) Act, 2020 (Act 1025).
Brief on Service Tax and Service Tax Registration
At present, the effective rate of Service Tax is 10.3% on the value of the taxable service. The above effective rate comprises of Service Tax @10% payable on the "gross value of taxable service" Education Cess @ 2% on the service tax amount, and Secondary and Higher Education Cess @ 1% on the service tax amount. 7.