Union Budget 2011 was mixed bag which attempt at reducing the fiscal deficit down to 5.1 per cent from the earlier estimate of 5.6 per cent for the current fiscal year and 4.6 per cent for the next. There is no major increase in service tax and excise duties in view of buoyancy in government [...]
Service Tax
Articles and Resources about Service Tax
Union Budget 2011 For Homemakers
Tuesday, March 1st, 2011Posted in Civic and Governance, Property Buying, Service Tax | 1 Comment »
Conditions To Claim Service Tax Credit-Apartment Owners Association
Thursday, February 3rd, 2011An apartment owners association or Housing society can claim service tax credit if the service provided and received by association falls in same category of service. The Finance Act, 2002 has amended Section 94 of the Finance Act, 1994 to provide for credit of Service. As per section 94(2)(ee) of the Finance Act, 1994, Central [...]
Posted in Civic and Governance, Owners Association, Service Tax | 1 Comment »
How To Reduce Service Tax Liability of Apartment Owners Association
Thursday, February 3rd, 2011The Service Tax Return is required to be filed by any person liable to pay the service tax. A small service provider whose aggregate value of taxable services rendered in the previous year has not exceeded the limit of Rs 10 Lakh is exempted from Service Tax. One important question by apartment owners and it [...]
Posted in Civic and Governance, Service Tax | No Comments »
Amendment in Service Tax for Under Construction Property
Thursday, July 1st, 2010The budget 2010-11 has proposed to levy service tax on all sales of under-construction properties from July 1, 2010. The property buyers have to shell out an extra for payment made for purchase of property. Finance Bill 2010 has introduced eight new services to charge service tax. This includes Special services provided by a builder [...]
Posted in Service Tax | 67 Comments »
Service Tax On Purchase of Under Construction Property as per Budget 2010-11
Thursday, May 27th, 2010The budget 2010-11 brought rude shocking and a lot of confusion to prospective home buyers. But don’t get too shocked, you won’t pay service tax on the entire amount. The budget has suggested 10 per cent service tax on construction. For the past one month, many city builders have been asking purchasers to start paying [...]
Posted in Service Tax | 105 Comments »
Service Tax on Construction and Sale of Residential Property
Thursday, March 11th, 2010As per the budget proposal for 2010-11, the finance ministry has suggested service tax on construction and sale of property. Service Tax is a tax levied on service providers in India. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to [...]
Posted in Property, Property Buying, Service Tax | 49 Comments »
Getting Refund of Service Tax on Purchase of Your Apartment or House
Friday, October 30th, 2009Service Tax is a tax levied on service providers in India. All service providers in India, except those in the state of Jammu and Kashmir, are required to pay Service Tax. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to [...]
Posted in Home loan, Service Tax | 46 Comments »
