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Service Tax in India

Service Tax in India

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Published by Dr Sarbesh Mishra
Discusses its definition, application and rates, etc.
Discusses its definition, application and rates, etc.

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Categories:Types, Research
Published by: Dr Sarbesh Mishra on Feb 07, 2010
Copyright:Attribution Non-commercial

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05/11/2014

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Dr Sarbesh Mishra1
Service Tax in IndiaService Tax in India
Dr Sarbesh MishraDr Sarbesh MishraFinance AreaFinance Area
 
Dr Sarbesh Mishra2
BackdropBackdrop
Dr. Manmohan Singh, the thenDr. Manmohan Singh, the thenUnion Finance Minister, in his BudgetUnion Finance Minister, in his Budgetspeech for the year 1994-95 introducedspeech for the year 1994-95 introducedthe new concept of Service Tax andthe new concept of Service Tax andstated that '' There is no sound reasonstated that '' There is no sound reasonfor exempting services from taxation,for exempting services from taxation,therefore, I propose to make a modesttherefore, I propose to make a modesteffort in this direction by imposing a taxeffort in this direction by imposing a taxon services of telephones, non-lifeon services of telephones, non-lifeinsurance and stock brokers.''insurance and stock brokers.''
 
Dr Sarbesh Mishra3
ApplicabilityApplicability
1.1.
 The Service Tax assessee is the The Service Tax assessee is theperson/firm who provides the service.person/firm who provides the service.Hence, the Service Tax must be paid byHence, the Service Tax must be paid bythe person/firm providing the service.the person/firm providing the service.
2.2.
Chapter V of the Finance Act, 1994 (32 of Chapter V of the Finance Act, 1994 (32 of 1994) (Sections 64 to 96) deals with1994) (Sections 64 to 96) deals withimposition of Service Tax interalia on-imposition of Service Tax interalia on-
Service rendered by the telegraphService rendered by the telegraphauthorities to the subscribers in relation toauthorities to the subscribers in relation totelephone connections.telephone connections.

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