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Mar 27, 2011

Service tax – On-Line Information and Database Access and/Or Retrieval Services

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Service tax on Market Research Agency's Services

Posted: 26 Mar 2011 06:14 AM PDT


Market Research Agency's Services means any service provided or to be provided to any person, by a market research agency in relation to market research of any product, service or utility, in any manner. "Market research agency" means any person...

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Service tax – On-Line Information and Database Access and/Or Retrieval Services

Posted: 26 Mar 2011 06:06 AM PDT


"On-line information and database access or retrieval" means providing data or information, retrievable or otherwise, to any person, in electric form through a computer network. "Taxable service" means any service provided or to be provided to any...

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Service tax on Stock Broking Services

Posted: 26 Mar 2011 05:57 AM PDT


Stock Broking Services means any service provided or to be provided to any person, by a stock-broker in connection with the sale or purchase of securities listed on a recognized stock exchange. "Stock-broker" means a person, who has either made an...

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Service Tax on Photography Services

Posted: 26 Mar 2011 05:44 AM PDT


Photography Services means any service provided or to be provided to an y person, by a photography studio or agency in relation to photography, in any manner. "Photography studio or agency" means any professional photographer or any person engaged...

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Service Tax on Sound Recording Services

Posted: 26 Mar 2011 05:24 AM PDT


Sound Recording means recording of sound on any media or device including magnetic storage device, and includes services relating to recording of sound in any manner such as sound cataloguing, storing of sound and sound mixing or re-mixing or any...

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Service Tax on Rent-A-Cab Services

Posted: 26 Mar 2011 02:46 AM PDT


Rent-A-Cab Services means any service provided or to be provided to any person by a rent-a-cab scheme operator in relation to the renting of a cab. Schools running transport services for their students are not liable to pay Service Tax under the...

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Service tax on Ship Management Services

Posted: 26 Mar 2011 02:17 AM PDT


"Ship management service" includes, - (i) the supervision of the maintenance, survey and repair of ship; (ii) engagement or providing of crews; (iii)receiving the hire or freight charges on behalf of the owner; (iv) arrangements for loading and...

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Service Tax on Share Transfer Agent Service

Posted: 26 Mar 2011 02:09 AM PDT


Share Transfer Agent Service means any service provided or to be provided to any person, by a share transfer agent, in relation to securities. "Share transfer agent" means any person who maintains the record of holders of securities and deals with...

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Service Tax on Information Technology Software Services

Posted: 26 Mar 2011 01:59 AM PDT


Information Technology Software Services means any service provided or to be provided to any person, by any other person in relation to information technology software, including,- development of information technology software, ii) study, analysis,...

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Service tax on Mining service

Posted: 26 Mar 2011 01:48 AM PDT


Mining service means any service provided or to be provided to any person, by any other person in relation to mining of mineral, oil or gas. Mining Service- Applicability of Service Tax on activities undertaken in mining sector before 1-6-2007-...

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Service tax on Registrar to an Issue Services

Posted: 26 Mar 2011 01:23 AM PDT


"Registrar to an issue" means any person carrying on the activities in relation to an issue including collecting application forms from investors, keeping a record of applications and money received from investors or paid to the seller of...

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Service tax on Supply of Tangible Goods Services

Posted: 26 Mar 2011 01:12 AM PDT


Supply of Tangible Goods Services means any service provided or to be provided to any person, by any other person in relation to supply of tangible goods including machinery, equipment and appliances for use, without transferring right of possession...

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Service tax on Video Tape Production Services

Posted: 26 Mar 2011 01:05 AM PDT


Video Tape Production Services means any service provided or to be provided to any person, by a video production agency in relation to video-tape production, in any manner; (Section 65 (105) (zi) of Finance Act, 1994 as amended) . "Video production...

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Service tax on Underwriters Services

Posted: 26 Mar 2011 12:57 AM PDT


Underwriters Services means any service provided or to be provided to any person, by an underwriter in relation to underwriting, in any manner. "Underwriter" has the meaning assigned to it in clause (f) of rule 2 of the Securities and Exchange Board...

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Service tax on Lottery and other Games of Chance Services

Posted: 26 Mar 2011 12:46 AM PDT


Lottery and other Games of Chance Services means any service provided or to be provided to any person, by any other person, for promotion, marketing, organizing or in any other manner assisting in organizing games of chance, including lottery, Bingo...

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Service tax on Pandal or Shamiana Services

Posted: 26 Mar 2011 12:39 AM PDT


Pandal or Shamiana Services means a place specially prepared or arranged for organizing an official, social or business function. "Pandal or shamiana contractor" means a person engaged in providing any service, either directly or indirectly, in...

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Service tax on Legal Consultancy Services

Posted: 26 Mar 2011 12:18 AM PDT


Legal consultancy services means any service provided or to be provided to a business entity, by any other business entity, in relation to advice, consultancy or assistance in any branch of law, in any manner. Provided that any service provided by...

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Service Tax on Stock Exchange Service

Posted: 26 Mar 2011 12:08 AM PDT


Stock Exchange Service means any service provided or to be provided to any person, by a recognized stock exchange in relation to assisting, regulating or controlling the business of buying, selling or dealing in securities and includes services...

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Service tax on Transport of Coastal Goods and Transport of Goods through National Water Way/Inland Water Service

Posted: 25 Mar 2011 11:41 PM PDT


"Taxable Service" means any service provided or to be provided to any person, by any other person in relation to transport of - (i) coastal goods; (ii) goods through national waterway; or (iii) goods through inland water.

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Service tax on Survey and Map Making Services

Posted: 25 Mar 2011 11:33 PM PDT


"Survey and map-making" means geological, geophysical or any other prospecting, surface, sub-surface or aerial surveying or map-making of any kind, but does not include survey and exploration of mineral. "Taxable Service" means any service provided...

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Reporting of Foreign liabilities and assets by Indian companies

Posted: 25 Mar 2011 10:56 PM PDT


Reserve Bank of India (RBI) has, on 15 March 2011, notified a revised procedure for reporting of all Foreign Direct Investment (FDI), both inward and outward. RBI has replaced Part B of Form FC-GPR (annual filing by Indian companies with regard to...

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Finance Bill, 2011 — Transfer Pricing Amendments

Posted: 25 Mar 2011 10:54 PM PDT


The Finance Bill, 2011 ("Bill") has introduced certain changes in the existing transfer pricing ("TP") regime both in terms of substantive law and procedural aspects. Further, as part of a new anti-avoidance measure introduced in the Budget, the...

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Withdrawal of circular dealing with income arising from business connection in India is prospective in nature

Posted: 25 Mar 2011 10:51 PM PDT


Lucknow Income-tax Appellate Tribunal (the "Tribunal") in the case of Sanjiv Gupta v. DCIT [201 1-TII-06-ITAT-LKW-INTL] , held that Circular No. 7 of 2009 dated 22 October, 2009 withdrawing the Circular No. 23 of 1969 dated 23 July, 1969 would be...

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UPDATES FROM TAXGURU