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1) ADVERTISING AGENCY SERVICE : (Service Tax Code 0013) Taxable Service means any service provided or to be provided to any

person by an advertising agency in relation to advertisement, in any manner. (Section 65 (105) (e) of Finance Act, 1994 as amended)

Tax will be applicable 12.3% on Gross Amount For Eg: Advertising Agency Charges (Rs.5000*12.3%)= Rs.5615 Rs.5000+Service Tax 12.3%

2) ADVERTISEMENT-SALE OF SPACE OR TIME SERVICES : (Service Tax Code 0354) Taxable service means any service provided or to be provided to any person, by any other person, in relation to sale of space or time for advertisement, in any manner; but does not include sale of space for advertisement in print media and sale of time slots by a broadcasting agency or organization. 3) AIR TRANSPORT OF PASSENGER : (Service Tax Code 0362) Aircraft operator means any person which provides the service of transport of goods or passengers by aircraft; Taxable Service means any service provided or to be provided to any passenger, by an aircraft operator, in relation to scheduled or non-scheduled air transport of such passenger embarking in India for domestic journey or international journey;

4)

AIR TRAVEL AGENTS SERVICES : (Service Tax Code 0032) Taxable Service means any service provided or to be provided to any person by an air travel agent in relation to the booking of passage for travel by air; The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services of aggregate

value not exceeding Ten lakh* rupees in any financial year from the whole of the service tax leviable thereon under section 66

Orelse Tax will be applicable 12.3% on Gross Amount

5) AIRPORT SERVICES : (Service Tax Code 0258) Taxable Service means any service provided or to be provided to any person, by airports authority or any other person, in any airport or a civil enclave; Service Tax Is Calculated On Gross Amount i.e. 12.3% Central govt. hereby exempts taxable services of aggregate value not exceeding Ten lakh* rupees in any financial year from the whole of the service tax leviable thereon under section 66

6) ARCHITECTS SERVICES : (Service Tax Code 0072)


Taxable

Service means any service provided or to be provided to any person, by an architect in his professional capacity, in any manner; Service Tax Is Calculated On Gross Amount i.e. 12.3% If service aggregate value does not exceed 10 lakh in the financial year then such service is fully exempted from service tax. If service privoded in SEZ unit then it is fully exempted from service tax. Any service which is taxable under clause 105 of Section 65 may be exported without payment of service tax. Services provided to United Organizations are exempt. Nations or an International

Exemption to services provided to Foreign Diplomatic Missions or Consular Post in India

7) ASSET MANAGEMENT : (Service Tax Code 0418) Taxable Service means any service provided or to be provided to any person, by any other person, except a banking company or a financial institution including a non-banking financial company or any other body corporate or commercial concern referred to in sub-clause (zm), in relation to asset management including portfolio management and all forms of fund management. If the service value does not exceed more than 10 Lakh for the financial year then such service is fully exempted from the payment of service tax. Exemption to value of goods & material sold by service provider

8) TRANSPORT OF GOODS BY ROAD : (Service Tax Code 0262) Taxable Service means any service provided or to be provided to any person, by a goods transport agency, in relation to transport of goods by road in a goods carriage. The gross amount charged on an individual consignment transported on a goods carriage does not exceed rupees seven hundred fifty are fully exempted from service tax. Goods transport agency-Abatement of 75% -Withdrawal of letter confirmed : where transport value which is above rupees seven hundred fifty are 75% exempted from service tax and 25% is valid for tax where 12.3% service tax is levied.

9) MANAGEMENT CONSULTANTS : (Service Tax Code 0116) Taxable Service means any service provided or to be provided to any person, by a management or business consultant in connection with the management of any organization or business in any manner;

Once amount of taxable services exceeds 9 Lacs he needs to be register with the department, and if taxable services exceeds 10 lacs ST will pe payable from the Re.1 over 10 lacs,and from the next year service tax will be chargeable from Re.1 of taxable services Ex : Mr. X is a professional service provider. During the year his taxable service amounts to Rs.8 Lacs. Then he does not need to pay service tax on the same as taxable services does not exceeded Rs. 10 Lacs, In the 2nd year taxable T/O amounted to Rs.12 Lacs,, then he needs to pay service tax on Rs. 2 Lacs (12-10) @ 10.3%. and needs to be registered when T/O exceeded Rs.9 Lacs. If suppose in the 3rd year the T/O amounts to Rs.6 Lacs then ST will be payable on whole Rs.6 Lacs. And suppose in the 4th year if T/O amounts to Rs.8 Lacs then no ST will be payable as T/O in the last year did not exceeded Rs. 10Lacs 10) LEGAL CONSULTANCY SERVICE : (Service Tax Code 0480) Taxable Service 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. Any service provided by way of appearance before any court,tribunal or authority shall not amount to taxable service. Service Tax Is Calculated On Gross Amount i.e. 12.3% In Case if above services value does not exceeded above Rs.10 lakh for the financial years then such services fully exempted from payable of service tax as per Finance Act, 1994 (32 of 1994) Exemption to services provided for personal use of a family member of Diplomatic Agent or Career Consular Officers posted in Foreign Diplomatic Mission/Consular Post in India

11) BUSINESS AND EXHIBITION SERVICES : (Service Tax Code 0254)

Taxable Service means any service provided or to be provided to an exhibitor, by the organisor of business exhibition, in relation to business exhibition; Service Tax Is Calculated On Gross Amount i.e. 12.3% The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services of aggregate value not exceeding Ten lakh* rupees in any financial year from the whole of the service tax leviable thereon under section 66 of the said Finance Act:

12) SHARE TRANSFER AGENT : (Service Tax Code 0342)

Taxable service means any service provided or to be provided to any person, by a share transfer agent, in relation to securities Service Tax Is Calculated On Gross Amount i.e. 12.3% Central Govt. hereby exempts taxable services of aggregate value not exceeding Ten lakh* rupees in any financial year from the whole of the service tax leviable thereon under section 66 of the said Finance Act: 13) SHIP MANAGEMENT SERVICE : (Service Tax Code 0378)

Taxable service means any service provided or to be provided to any person, under a contract or an agreement, by any other person, in relation to ship management service.

The aggregate value of taxable services rendered by a provider of taxable service from one or more premises, does not exceed rupees *ten lakhs in the preceding financial year. Service Tax Is Calculated On Gross Amount i.e. 12.3%

14) MEMBERSHIP OF CLUBS : (Service Tax Code 0322) Taxable Service means any service provided or to be provided to its members, by any club or association in relation to provision of services, facilities or advantages for a subscription or any other amount; Service Tax Is Calculated On Gross Amount i.e. 12.3% The Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services of aggregate value not exceeding Ten lakh* rupees in any financial year from the whole of the service tax leviable thereon under section 66 of the said Finance Act All taxable services, provided by an entrepreneur located within the premises of a Technology Business Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) recognized by the National Science and technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, Govt. of India from the whole of the service tax leviable thereon subject to certain conditions and procedures.

15)

Professional Service :

Service Tax Is Calculated On Gross Amount i.e. 12.3% Service tax for professional fees are fully exempted till aggregate service value does not exceed Rs.10 Lakh for the financial year. Basic Rate : 12%

Education Cess :2% SHE : 1%

For Ex : Bill Amount Rs.5,000/-

Service Tax@(12% on bill amount) Education Cess@(2% on service tax) SHE@ (1% on service tax) Total

Rs.600/Rs.12/Rs.6/= Rs.5618/-

16) BANKING AND FINANCIAL : (Service Tax Code 0173)

Taxable Service means any service provided or to be provided to any person, by a banking company or a financial institution including a nonbanking financial company or any other body corporate or commercial concern, in relation to banking and other financial services;

Central Govt. exempts taxable services of aggregate value not exceeding Ten lakh rupees in any financial year from the whole of the service tax leviable thereon under section 66 of the said Finance Act:

Service tax levied on gross amount

Reason behind increase in service tax by 2% :We have to see the circumstances in which service tax is increased by 2%. If we see the government spending between

2008 and now, it has increased substantially. Therefore, there is a need to curtail expenditure. That part has not been addressed at all. Though, per se there is no problem in increasing the rates to pre-2008 level.

Impact Of increase in service tax by 2% :Since the service tax rates were raised in the Union Budget for 2012-13, the industry has been warning of inflationary pressures. In the current scenario, any increase in these taxes will have an inflationary impact. This would result in further tightening of the monetary policy. Hence, interest rates will not come down. So, what we have been saying is this increase at this point in time, will have an impact on growth and investments. Even all prices of service providers will hike due to increase in service tax rates. Postpaid mobile users bill will hike and prepaid users will get less talktime due to hike in service tax. Professional fees & hospitality will hike. Travelling ticket rates will hike. Courier & transport charges will hike. Advertising charges, entertainment charges like dish tv recharges,theater ticket rates & etc. will hike According to it from whom we receive service their charges will hike due to increase in service tax by 2% in Budget 2012-13