This document provides an analysis of the key changes to service tax proposed in the Union Budget of 2011-2012.
1. Two new services - restaurant services and hotel/inn/guest house services - have been brought under the service tax net. The scope of 7 existing services has also been modified.
2. Seven new service tax exemptions have been provided and the scope of 3 existing exemptions changed.
3. Several sections of the Finance Act governing service tax have been amended to change interest rates, penalties and introduce prosecution provisions. New Point of Taxation Rules have also been introduced to change the taxation point from cash to mercantile basis.
India's regulatory environment is fluid. There are over 3,000 regulatory changes in a year. Staying on top of these updates is a huge challenge for Compliance officers in India. February 2021 has multiple regulatory updates.
Compliance Watch is our Monthly Compliance Updates Newsletter which presents comprehensive and consolidated regulatory updates from centre, states, union territories, regulators, ministries, categories, and compliance types.
Subscribe for legal updates in India! Call us at +91 8893594595 for details or write to us at https://www.avantis.co.in/legalupdates/ to know latest legal updates in India.
Union budget 2015_Amendment In Indirect TaxesGaurav Arya
The Union Budget 2015 highlights include:
1) The rate of service tax has been increased to 14% from 12.36% as a preparation for the proposed 18% GST rate.
2) A new 2% Swachh Bharat Cess will be imposed on all taxable services, increasing the total tax rate to 16%.
3) Several exemptions have been withdrawn and the negative list has been narrowed, aiming to boost revenue collection.
4) Government services provided to business entities are now taxable, except for specifically exempted services.
This document summarizes changes made to Point of Taxation (POT) Rules and Cenvat Credit rules in 2012. It discusses key provisions related to determining the taxable event for service tax levy. It explains how the POT Rules help determine the applicable tax rate in cases where the rate is changed. It also summarizes the effect of various POT Rules when the service tax rate is increased or decreased.
The document summarizes the financial challenges facing Asheville due to increasing expenditures outpacing revenue growth. Proposed state legislation would further widen Asheville's budget gap by an estimated $11.7 million over two years requiring significant service cuts or tax increases. Staff recommends delaying the budget schedule to gain more clarity on the financial impact and seek additional council direction on balancing strategies.
Seminar on Service Tax at Jaipur on 20.4.2013 (Session i)Agarwal sanjiv & Co
This document provides an overview and summary of recent changes to Service Tax law in India. It covers:
- An economic overview of the growing services sector in India and its contribution to GDP.
- A history of Service Tax in India, shifting from a selective to comprehensive approach in 2012.
- Major changes introduced in the 2012-2013 period, including defining 'service', introducing a negative list, new place of provision rules, and changes to exemptions.
- Additional changes introduced in the 2013 budget, including some additions to the negative list and removal of exemptions.
- New penal provisions introduced, including penalties for company officials and the power to arrest in certain cases of tax default.
The Finance Bill of 2015 introduced changes to India's indirect tax system to rationalize taxes and bring them in line with the proposed Goods and Service Tax. Some key changes include extending the time limit to claim CENVAT credit to 1 year, allowing electronic maintenance of records, exempting ambulance services and reducing service tax on movies, senior citizen insurance, and transport. The service tax rate was increased to 14% and a Swachh Bharat Cess of 2% was introduced on notified taxable services. [END SUMMARY]
In the month of March 2021 there were 327 regulatory updates during the month; 199 central updates and 128 from States.
Compliance Watch is our Monthly Compliance Updates Newsletter which presents comprehensive and consolidated regulatory updates from centre, states, union territories, regulators, ministries, across all the categories, and compliance types.
Subscribe for legal updates in India! Call us at +91 8893594595 for details or write to us at https://www.avantis.co.in/legalupdates/ to know latest legal updates in India.
The weekly Aon Hewitt Radar summarizes regulatory developments related to retirement, health benefits, and other HR issues in Canada. This issue highlights:
1) Changes to generic drug pricing in Alberta and Nova Scotia, and increased co-payment rates for chronic care in Ontario.
2) Amendments made by the Budget Implementation Act regarding pensions, benefits, employment insurance, and immigration.
3) Upcoming public hearings in Quebec on voluntary retirement savings plans.
India's regulatory environment is fluid. There are over 3,000 regulatory changes in a year. Staying on top of these updates is a huge challenge for Compliance officers in India. February 2021 has multiple regulatory updates.
Compliance Watch is our Monthly Compliance Updates Newsletter which presents comprehensive and consolidated regulatory updates from centre, states, union territories, regulators, ministries, categories, and compliance types.
Subscribe for legal updates in India! Call us at +91 8893594595 for details or write to us at https://www.avantis.co.in/legalupdates/ to know latest legal updates in India.
Union budget 2015_Amendment In Indirect TaxesGaurav Arya
The Union Budget 2015 highlights include:
1) The rate of service tax has been increased to 14% from 12.36% as a preparation for the proposed 18% GST rate.
2) A new 2% Swachh Bharat Cess will be imposed on all taxable services, increasing the total tax rate to 16%.
3) Several exemptions have been withdrawn and the negative list has been narrowed, aiming to boost revenue collection.
4) Government services provided to business entities are now taxable, except for specifically exempted services.
This document summarizes changes made to Point of Taxation (POT) Rules and Cenvat Credit rules in 2012. It discusses key provisions related to determining the taxable event for service tax levy. It explains how the POT Rules help determine the applicable tax rate in cases where the rate is changed. It also summarizes the effect of various POT Rules when the service tax rate is increased or decreased.
The document summarizes the financial challenges facing Asheville due to increasing expenditures outpacing revenue growth. Proposed state legislation would further widen Asheville's budget gap by an estimated $11.7 million over two years requiring significant service cuts or tax increases. Staff recommends delaying the budget schedule to gain more clarity on the financial impact and seek additional council direction on balancing strategies.
Seminar on Service Tax at Jaipur on 20.4.2013 (Session i)Agarwal sanjiv & Co
This document provides an overview and summary of recent changes to Service Tax law in India. It covers:
- An economic overview of the growing services sector in India and its contribution to GDP.
- A history of Service Tax in India, shifting from a selective to comprehensive approach in 2012.
- Major changes introduced in the 2012-2013 period, including defining 'service', introducing a negative list, new place of provision rules, and changes to exemptions.
- Additional changes introduced in the 2013 budget, including some additions to the negative list and removal of exemptions.
- New penal provisions introduced, including penalties for company officials and the power to arrest in certain cases of tax default.
The Finance Bill of 2015 introduced changes to India's indirect tax system to rationalize taxes and bring them in line with the proposed Goods and Service Tax. Some key changes include extending the time limit to claim CENVAT credit to 1 year, allowing electronic maintenance of records, exempting ambulance services and reducing service tax on movies, senior citizen insurance, and transport. The service tax rate was increased to 14% and a Swachh Bharat Cess of 2% was introduced on notified taxable services. [END SUMMARY]
In the month of March 2021 there were 327 regulatory updates during the month; 199 central updates and 128 from States.
Compliance Watch is our Monthly Compliance Updates Newsletter which presents comprehensive and consolidated regulatory updates from centre, states, union territories, regulators, ministries, across all the categories, and compliance types.
Subscribe for legal updates in India! Call us at +91 8893594595 for details or write to us at https://www.avantis.co.in/legalupdates/ to know latest legal updates in India.
The weekly Aon Hewitt Radar summarizes regulatory developments related to retirement, health benefits, and other HR issues in Canada. This issue highlights:
1) Changes to generic drug pricing in Alberta and Nova Scotia, and increased co-payment rates for chronic care in Ontario.
2) Amendments made by the Budget Implementation Act regarding pensions, benefits, employment insurance, and immigration.
3) Upcoming public hearings in Quebec on voluntary retirement savings plans.
The Finance Minister has retained the standard rate of central excise duty and service tax at 10% to align with the future GST regime. Some key changes include:
1. Imposing a nominal 1% duty on 130 additional items entering the tax net.
2. Taxing all services provided by hospitals with 25 or more beds and air conditioning.
3. Expanding the service tax net to include certain restaurant and hotel services.
4. Rationalizing some penalty provisions under service tax to encourage voluntary compliance.
The document summarizes key changes to India's service tax laws effective July 1, 2012. Key points include:
1) The service tax rate increased from 10% to 12% and the system shifted from a positive to a negative list.
2) Many services were exempted from tax and new sections were introduced to define taxable services and the place of provision.
3) A reverse charge mechanism was introduced for three specified services and the abatement scheme was modified.
4) Procedural amendments included changes to invoicing rules, cenvat credit, and limitations periods.
The document provides an analysis of key service tax provisions introduced by the Finance Bill 2012 in India. Some key changes include:
1) Increasing the rate of service tax from 10% to 12%.
2) Introducing a negative list approach to taxation of services where all services except those specified in the negative list will be taxable.
3) Amending valuation rules related to works contracts and restaurants/outdoor catering to increase the taxable portion.
4) Liberalizing CENVAT credit rules to allow more input tax credits for motor vehicles, services related to motor vehicles, and without requiring inputs/capital goods to be brought to premises.
The document discusses incentives for hospitals to adopt electronic health records (EHRs) under the American Recovery and Reinvestment Act (ARRA). Hospitals can receive up to $15.9 million in incentive payments over 4 years if they demonstrate meaningful use of certified EHR technology. They must meet requirements like using EHRs to exchange health information and submit clinical quality measures. Hospitals that do not show meaningful use by 2015 will face Medicare payment reductions. States can also receive grants to help hospitals finance EHR purchases through loan programs.
“Highlights - Budget 2015-16 - Service Tax" containing descriptions of entire amendments that took place through the Union Budget, 2015 in the field of Indirect taxes, formerly covering Service Tax.
Presentation on Service Tax at Ernakulam dated 28.07.2013 Agarwal sanjiv & Co
This document provides an overview of a presentation on service tax given on July 28th, 2013. The presentation covers the shift from India's previous selective approach to taxation of services to its current comprehensive negative list approach. Key points covered include definitions of service, consideration, and person. India's service sector has grown significantly as a percentage of GDP. Under the new negative list system, all services are taxable unless specifically excluded by the negative list or an exemption.
Latest Amendments In Service Tax After Budget 2009Praveen Kumar
Recent amendments expanded the scope of services subject to service tax to include transport of goods by rail, coastal and inland water transport, legal consultancy, and cosmetic surgery. Exemptions were provided for some financial services and export promotion councils. The document also outlines changes to cenvat credit rules and increases to refund claim time limits.
A descriptive presentation on Understanding the Union Budget - 2020, containing detailed interpretation of various amendments in Direct and Indirect Tax Structure.
Good Luck!!
Good Luck!!
The document provides economic, regulatory, and market updates from India. It notes that foreign direct investment into India jumped 48% after the launch of the "Make in India" program. It also mentions several notices issued by regulatory bodies like SEBI and RBI regarding rule changes for special economic zones, tax filing extensions, and anti-dumping duties. Finally, it provides an overview of changes in key market indices for India and internationally.
This document provides frequently asked questions about service tax in India. It defines service tax as a tax on certain specified services levied under the Finance Act of 1994. Normally the service provider pays the tax but in some cases the recipient is responsible. Over 100 taxable services are listed with the applicable tax rate currently at 10.3%. Exemptions and abatements are available in some cases.
Service tax on works contract (Pre-Negative List)sandesh mundra
This ppt gives a glimpse of service tax payment in india as applicable to works contractors before the negative list. This is very relevant to builders and developers. Service Tax posers and illustrations were also covered by the speaker during the presentation.
Union Budget 2017-18: Overview of indirect taxes - Dr Sanjiv AgarwalD Murali ☆
Union Budget 2017-18: Overview of indirect taxes - Dr Sanjiv Agarwal - Article published in Business Advisor, dated February 10, 2017 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The document summarizes the Point of Taxation Rules for service tax in India. Key points include:
- The rules define the point of taxation as the time when a service is deemed provided and determines the service tax rate and payment due date.
- For normal cases, the point is the earlier of the invoice date or payment receipt date. Special cases include rate changes, new services, continuous supplies, and intellectual property services.
- Transitional provisions apply to services completed or invoices issued before April 1, 2011. CENVAT credit rules were also amended regarding accrual-based credits.
This document provides an overview and summary of a presentation on understanding recent changes to India's service tax law. The presentation covers:
- An economic overview of India and the growing importance of the services sector.
- An explanation of the shift in India's service tax law from a selective positive list approach to a comprehensive negative list approach implemented in July 2012.
- A summary of the key changes introduced by the new negative list approach, including the definition of taxable services, rules for determining the place of provision, and new compliance requirements.
The petitioners challenged the levy of service tax on construction of residential complexes, arguing that it amounts to taxation of immovable property, which is not within the legislative competence of Parliament. The Revenue argued that construction involves various taxable services. The court held that while construction involves both goods and services, the dominant nature is transfer of immovable property and hence service tax cannot be levied. It ruled the levy was beyond Parliament's legislative competence.
Changes proposed in service tax by union budget 2016 17CA Jitendra Panwar
The document discusses changes made to India's service tax law through the Union Budget of 2016-2017. Key changes include:
1) Introduction of a new 0.5% Krishi Kalyan Cess on all taxable services to finance agriculture initiatives.
2) The effective service tax rate is now 15% with the addition of the 0.5% Krishi Kalyan Cess and 0.5% Swachh Bharat Cess.
3) Lottery services provided in accordance with the Lotteries (Regulation) Act are now taxable. Air-conditioned stage carriage transport services are also taxable.
This document provides an overview of service tax law in India. Some key points:
- Service tax was first introduced in 1994 and now covers all services except those in the negative list.
- It is levied on the value addition from the provision of services within India.
- Various rules determine the taxable person, valuation of services, point of taxation, and place of provision of services.
- There are nine types of declared taxable services and 17 services exempted under the negative list.
- The document outlines some of the major provisions and rules under the service tax laws.
The document provides an analysis of the Union Budget of India for 2011. It includes sections on understanding the budget, the finance minister's speech, budget estimates, direct taxes, indirect taxes covering various sectors like agriculture, manufacturing, environment and infrastructure. It also discusses service tax and other proposals. The document aims to provide an overview of the key aspects of the Union Budget to internal stakeholders.
The Union Budget of India is presented each year on the last working day of February. It outlines the economic planning of the Government of India for the next year. Some key points from the budget include allocating Rs. 2,14,000 crores for infrastructure development, introducing tax reforms such as the Direct Taxes Code and Goods and Services Tax, providing subsidies for certain essential goods, and strengthening measures to curb black money and corruption. The budget also proposes certain amendments to direct tax laws related to charitable organizations, infrastructure funding, investment in science research, and transfer pricing regulations.
This document summarizes a presentation on recent changes to India's service tax law. The presentation covers: an economic overview of India; the history and current state of taxation of services in India; upcoming GST reforms; major changes made in the 2012-2013 budget and 2013-2014 budget; new penal provisions; and a voluntary compliance scheme. The presentation discusses shifting from a selective to comprehensive approach of taxing services, definition of key terms, and implementation of the negative list approach.
This presentation was provided by Rebecca Benner, Ph.D., of the American Society of Anesthesiologists, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
The Finance Minister has retained the standard rate of central excise duty and service tax at 10% to align with the future GST regime. Some key changes include:
1. Imposing a nominal 1% duty on 130 additional items entering the tax net.
2. Taxing all services provided by hospitals with 25 or more beds and air conditioning.
3. Expanding the service tax net to include certain restaurant and hotel services.
4. Rationalizing some penalty provisions under service tax to encourage voluntary compliance.
The document summarizes key changes to India's service tax laws effective July 1, 2012. Key points include:
1) The service tax rate increased from 10% to 12% and the system shifted from a positive to a negative list.
2) Many services were exempted from tax and new sections were introduced to define taxable services and the place of provision.
3) A reverse charge mechanism was introduced for three specified services and the abatement scheme was modified.
4) Procedural amendments included changes to invoicing rules, cenvat credit, and limitations periods.
The document provides an analysis of key service tax provisions introduced by the Finance Bill 2012 in India. Some key changes include:
1) Increasing the rate of service tax from 10% to 12%.
2) Introducing a negative list approach to taxation of services where all services except those specified in the negative list will be taxable.
3) Amending valuation rules related to works contracts and restaurants/outdoor catering to increase the taxable portion.
4) Liberalizing CENVAT credit rules to allow more input tax credits for motor vehicles, services related to motor vehicles, and without requiring inputs/capital goods to be brought to premises.
The document discusses incentives for hospitals to adopt electronic health records (EHRs) under the American Recovery and Reinvestment Act (ARRA). Hospitals can receive up to $15.9 million in incentive payments over 4 years if they demonstrate meaningful use of certified EHR technology. They must meet requirements like using EHRs to exchange health information and submit clinical quality measures. Hospitals that do not show meaningful use by 2015 will face Medicare payment reductions. States can also receive grants to help hospitals finance EHR purchases through loan programs.
“Highlights - Budget 2015-16 - Service Tax" containing descriptions of entire amendments that took place through the Union Budget, 2015 in the field of Indirect taxes, formerly covering Service Tax.
Presentation on Service Tax at Ernakulam dated 28.07.2013 Agarwal sanjiv & Co
This document provides an overview of a presentation on service tax given on July 28th, 2013. The presentation covers the shift from India's previous selective approach to taxation of services to its current comprehensive negative list approach. Key points covered include definitions of service, consideration, and person. India's service sector has grown significantly as a percentage of GDP. Under the new negative list system, all services are taxable unless specifically excluded by the negative list or an exemption.
Latest Amendments In Service Tax After Budget 2009Praveen Kumar
Recent amendments expanded the scope of services subject to service tax to include transport of goods by rail, coastal and inland water transport, legal consultancy, and cosmetic surgery. Exemptions were provided for some financial services and export promotion councils. The document also outlines changes to cenvat credit rules and increases to refund claim time limits.
A descriptive presentation on Understanding the Union Budget - 2020, containing detailed interpretation of various amendments in Direct and Indirect Tax Structure.
Good Luck!!
Good Luck!!
The document provides economic, regulatory, and market updates from India. It notes that foreign direct investment into India jumped 48% after the launch of the "Make in India" program. It also mentions several notices issued by regulatory bodies like SEBI and RBI regarding rule changes for special economic zones, tax filing extensions, and anti-dumping duties. Finally, it provides an overview of changes in key market indices for India and internationally.
This document provides frequently asked questions about service tax in India. It defines service tax as a tax on certain specified services levied under the Finance Act of 1994. Normally the service provider pays the tax but in some cases the recipient is responsible. Over 100 taxable services are listed with the applicable tax rate currently at 10.3%. Exemptions and abatements are available in some cases.
Service tax on works contract (Pre-Negative List)sandesh mundra
This ppt gives a glimpse of service tax payment in india as applicable to works contractors before the negative list. This is very relevant to builders and developers. Service Tax posers and illustrations were also covered by the speaker during the presentation.
Union Budget 2017-18: Overview of indirect taxes - Dr Sanjiv AgarwalD Murali ☆
Union Budget 2017-18: Overview of indirect taxes - Dr Sanjiv Agarwal - Article published in Business Advisor, dated February 10, 2017 - http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The document summarizes the Point of Taxation Rules for service tax in India. Key points include:
- The rules define the point of taxation as the time when a service is deemed provided and determines the service tax rate and payment due date.
- For normal cases, the point is the earlier of the invoice date or payment receipt date. Special cases include rate changes, new services, continuous supplies, and intellectual property services.
- Transitional provisions apply to services completed or invoices issued before April 1, 2011. CENVAT credit rules were also amended regarding accrual-based credits.
This document provides an overview and summary of a presentation on understanding recent changes to India's service tax law. The presentation covers:
- An economic overview of India and the growing importance of the services sector.
- An explanation of the shift in India's service tax law from a selective positive list approach to a comprehensive negative list approach implemented in July 2012.
- A summary of the key changes introduced by the new negative list approach, including the definition of taxable services, rules for determining the place of provision, and new compliance requirements.
The petitioners challenged the levy of service tax on construction of residential complexes, arguing that it amounts to taxation of immovable property, which is not within the legislative competence of Parliament. The Revenue argued that construction involves various taxable services. The court held that while construction involves both goods and services, the dominant nature is transfer of immovable property and hence service tax cannot be levied. It ruled the levy was beyond Parliament's legislative competence.
Changes proposed in service tax by union budget 2016 17CA Jitendra Panwar
The document discusses changes made to India's service tax law through the Union Budget of 2016-2017. Key changes include:
1) Introduction of a new 0.5% Krishi Kalyan Cess on all taxable services to finance agriculture initiatives.
2) The effective service tax rate is now 15% with the addition of the 0.5% Krishi Kalyan Cess and 0.5% Swachh Bharat Cess.
3) Lottery services provided in accordance with the Lotteries (Regulation) Act are now taxable. Air-conditioned stage carriage transport services are also taxable.
This document provides an overview of service tax law in India. Some key points:
- Service tax was first introduced in 1994 and now covers all services except those in the negative list.
- It is levied on the value addition from the provision of services within India.
- Various rules determine the taxable person, valuation of services, point of taxation, and place of provision of services.
- There are nine types of declared taxable services and 17 services exempted under the negative list.
- The document outlines some of the major provisions and rules under the service tax laws.
The document provides an analysis of the Union Budget of India for 2011. It includes sections on understanding the budget, the finance minister's speech, budget estimates, direct taxes, indirect taxes covering various sectors like agriculture, manufacturing, environment and infrastructure. It also discusses service tax and other proposals. The document aims to provide an overview of the key aspects of the Union Budget to internal stakeholders.
The Union Budget of India is presented each year on the last working day of February. It outlines the economic planning of the Government of India for the next year. Some key points from the budget include allocating Rs. 2,14,000 crores for infrastructure development, introducing tax reforms such as the Direct Taxes Code and Goods and Services Tax, providing subsidies for certain essential goods, and strengthening measures to curb black money and corruption. The budget also proposes certain amendments to direct tax laws related to charitable organizations, infrastructure funding, investment in science research, and transfer pricing regulations.
This document summarizes a presentation on recent changes to India's service tax law. The presentation covers: an economic overview of India; the history and current state of taxation of services in India; upcoming GST reforms; major changes made in the 2012-2013 budget and 2013-2014 budget; new penal provisions; and a voluntary compliance scheme. The presentation discusses shifting from a selective to comprehensive approach of taxing services, definition of key terms, and implementation of the negative list approach.
Similar to Service Tax Analysis of Budget 2011 (20)
This presentation was provided by Rebecca Benner, Ph.D., of the American Society of Anesthesiologists, for the second session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session Two: 'Expanding Pathways to Publishing Careers,' was held June 13, 2024.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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Beyond Degrees - Empowering the Workforce in the Context of Skills-First.pptxEduSkills OECD
Iván Bornacelly, Policy Analyst at the OECD Centre for Skills, OECD, presents at the webinar 'Tackling job market gaps with a skills-first approach' on 12 June 2024
Gender and Mental Health - Counselling and Family Therapy Applications and In...PsychoTech Services
A proprietary approach developed by bringing together the best of learning theories from Psychology, design principles from the world of visualization, and pedagogical methods from over a decade of training experience, that enables you to: Learn better, faster!
Walmart Business+ and Spark Good for Nonprofits.pdfTechSoup
"Learn about all the ways Walmart supports nonprofit organizations.
You will hear from Liz Willett, the Head of Nonprofits, and hear about what Walmart is doing to help nonprofits, including Walmart Business and Spark Good. Walmart Business+ is a new offer for nonprofits that offers discounts and also streamlines nonprofits order and expense tracking, saving time and money.
The webinar may also give some examples on how nonprofits can best leverage Walmart Business+.
The event will cover the following::
Walmart Business + (https://business.walmart.com/plus) is a new shopping experience for nonprofits, schools, and local business customers that connects an exclusive online shopping experience to stores. Benefits include free delivery and shipping, a 'Spend Analytics” feature, special discounts, deals and tax-exempt shopping.
Special TechSoup offer for a free 180 days membership, and up to $150 in discounts on eligible orders.
Spark Good (walmart.com/sparkgood) is a charitable platform that enables nonprofits to receive donations directly from customers and associates.
Answers about how you can do more with Walmart!"
Philippine Edukasyong Pantahanan at Pangkabuhayan (EPP) CurriculumMJDuyan
(𝐓𝐋𝐄 𝟏𝟎𝟎) (𝐋𝐞𝐬𝐬𝐨𝐧 𝟏)-𝐏𝐫𝐞𝐥𝐢𝐦𝐬
𝐃𝐢𝐬𝐜𝐮𝐬𝐬 𝐭𝐡𝐞 𝐄𝐏𝐏 𝐂𝐮𝐫𝐫𝐢𝐜𝐮𝐥𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐏𝐡𝐢𝐥𝐢𝐩𝐩𝐢𝐧𝐞𝐬:
- Understand the goals and objectives of the Edukasyong Pantahanan at Pangkabuhayan (EPP) curriculum, recognizing its importance in fostering practical life skills and values among students. Students will also be able to identify the key components and subjects covered, such as agriculture, home economics, industrial arts, and information and communication technology.
𝐄𝐱𝐩𝐥𝐚𝐢𝐧 𝐭𝐡𝐞 𝐍𝐚𝐭𝐮𝐫𝐞 𝐚𝐧𝐝 𝐒𝐜𝐨𝐩𝐞 𝐨𝐟 𝐚𝐧 𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫:
-Define entrepreneurship, distinguishing it from general business activities by emphasizing its focus on innovation, risk-taking, and value creation. Students will describe the characteristics and traits of successful entrepreneurs, including their roles and responsibilities, and discuss the broader economic and social impacts of entrepreneurial activities on both local and global scales.
Temple of Asclepius in Thrace. Excavation resultsKrassimira Luka
The temple and the sanctuary around were dedicated to Asklepios Zmidrenus. This name has been known since 1875 when an inscription dedicated to him was discovered in Rome. The inscription is dated in 227 AD and was left by soldiers originating from the city of Philippopolis (modern Plovdiv).
Chapter wise All Notes of First year Basic Civil Engineering.pptxDenish Jangid
Chapter wise All Notes of First year Basic Civil Engineering
Syllabus
Chapter-1
Introduction to objective, scope and outcome the subject
Chapter 2
Introduction: Scope and Specialization of Civil Engineering, Role of civil Engineer in Society, Impact of infrastructural development on economy of country.
Chapter 3
Surveying: Object Principles & Types of Surveying; Site Plans, Plans & Maps; Scales & Unit of different Measurements.
Linear Measurements: Instruments used. Linear Measurement by Tape, Ranging out Survey Lines and overcoming Obstructions; Measurements on sloping ground; Tape corrections, conventional symbols. Angular Measurements: Instruments used; Introduction to Compass Surveying, Bearings and Longitude & Latitude of a Line, Introduction to total station.
Levelling: Instrument used Object of levelling, Methods of levelling in brief, and Contour maps.
Chapter 4
Buildings: Selection of site for Buildings, Layout of Building Plan, Types of buildings, Plinth area, carpet area, floor space index, Introduction to building byelaws, concept of sun light & ventilation. Components of Buildings & their functions, Basic concept of R.C.C., Introduction to types of foundation
Chapter 5
Transportation: Introduction to Transportation Engineering; Traffic and Road Safety: Types and Characteristics of Various Modes of Transportation; Various Road Traffic Signs, Causes of Accidents and Road Safety Measures.
Chapter 6
Environmental Engineering: Environmental Pollution, Environmental Acts and Regulations, Functional Concepts of Ecology, Basics of Species, Biodiversity, Ecosystem, Hydrological Cycle; Chemical Cycles: Carbon, Nitrogen & Phosphorus; Energy Flow in Ecosystems.
Water Pollution: Water Quality standards, Introduction to Treatment & Disposal of Waste Water. Reuse and Saving of Water, Rain Water Harvesting. Solid Waste Management: Classification of Solid Waste, Collection, Transportation and Disposal of Solid. Recycling of Solid Waste: Energy Recovery, Sanitary Landfill, On-Site Sanitation. Air & Noise Pollution: Primary and Secondary air pollutants, Harmful effects of Air Pollution, Control of Air Pollution. . Noise Pollution Harmful Effects of noise pollution, control of noise pollution, Global warming & Climate Change, Ozone depletion, Greenhouse effect
Text Books:
1. Palancharmy, Basic Civil Engineering, McGraw Hill publishers.
2. Satheesh Gopi, Basic Civil Engineering, Pearson Publishers.
3. Ketki Rangwala Dalal, Essentials of Civil Engineering, Charotar Publishing House.
4. BCP, Surveying volume 1
1. UNION BUDGET 2011-2012
AN ANALYSIS ON SERIVCE TAX
28 February, 2011
PRESENTED BY:
CA Amarpal
Total Business Solutions
(All solutions under one roof)
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2. Contents:-
Particular Page No.
1. Forward
2. Changes at a Glance
3. New Services
4. Change in existing services
5. Change in Service Tax Act
6. Changes in the Rules and notification in relation
to Service Tax Act
7. Exemptions
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3. 1. Forward:-
Today, on 28th February, 2011, Hon’ble Finance Minister presented the financial
budget for the financial year 2011-12. The growth during 2010-11 has been swift
and broad-based. The economy is back to its pre-crisis growth trajectory. In
financial year 2010-11, the GDP in India is estimated to have grown at 8.6%.
Despite improvement in the availability of most food items, consumers were
denied the benefit of seasonal fall in prices normally seen in winter months.
These developments revealed shortcomings in distribution and marketing
systems, which are getting accentuated due to growing demand for these food
items with rising income levels. Exports have grown at 29.4 per cent to reach US
Dollar 184.6 billion, while imports at US Dollar 273.6 billion have recorded a
growth of 17.6 per cent during April-January 2010-11, over the corresponding
period last year. The current account deficit is around the 2009-10 level and poses
some concerns because of the composition of its financing.
In the run up of the Budget, there were expectations that there would be increase
in the personal income tax slaps.
During this budget, there was increase in the personal income tax slaps. There is
increase in MAT scope and rate. Some change in the rate of surcharges has also
been proposed.
There are drastic changes in Indirect tax made by Union Budget 2011-12. Excise
rate on most of the exempted goods have been levied with 1%. The concessional
rate of excise has been increased by 1%. The service tax base has been changed
from cash basis to mercantile basis.
28 February, 2011 CA. Amarpal
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4. 2. Changes at a Glance:-
The Finance Bill, 2011 has proposed to make major changes in the service tax
provisions. The summary of the changes are as under:
(i) 2 new services i.e. (a) Restaurants Service and (ii) Hotel etc services have
been brought under the service tax net.
(ii) The scope of following 7 existing services have been changed:
a. Authorized Service Station Services
b. Life Insurance Services
c. Club or association services
d. Business Support Services
e. Legal Consultancy services
f. Health Services
g. Commercial Training or Coaching Centre
(iii) 7 new exemptions have been provided.
(iv) The scope of 3 existing exemptions has been changed.
(v) 11 sections of Finance Act, 1994 (Service Tax Act) have been changed to
give effect to change in interest rate, increase penalties, prosecution
provisions.
(vi) A new set of rules named Point of Taxation Rules, 2011 have been
proposed to change the point of taxation from Cash basis to mercantile
basis.
(vii) Some changes in Service Tax Rules, Works Contract Rules have been made.
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5. 3. Newly Inserted services
The following new services have been brought under the service tax net:
(I) RESTAURANT SERVICES [65(105)(zzzzv)]
(a) Applicability
The restaurants which have the facility of air-conditioning in any part of the
restaurant, at any point of time during the financial year, have the license to
serve alcoholic beverages.
(b) Scope of the Services
All types of services provided by such restaurant in relation to serving the food
and/or beverages including alcoholic beverages, in its own premises.
(c) Date of Applicability
From the date to be notified after enactment of Finance Bill, 2011
(II) HOTEL, INN, GUEST HOUSE, CLUB ETC SERVICES [65(105)(zzzzw)]
(a) Applicability
All hotels, inn, guest house, club or campsite or any other same type of
establishment providing the accommodation services.
(b) Scope of the Services
Accommodation Services provided for a continuous period of less than 3
months.
(c) Date of Applicability
From the date to be notified after enactment of Finance Bill, 2011
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6. 4. Modification in the scope of existing services
The scope of the following services has been enlarged:
(I) Authorized Service Station Services [Sec. 65(105)(zo)]
The scope of the above services has been enlarged,
a) To cover the services of repair, reconditioning, etc provided by service
stations (whether authorized or not).
b) To cover all services of decoration and similar services along with the services
already covered.
c) However, services provided in relation to (i) 3 wheeler scooter auto-rickshaw,
and (ii) motor vehicles meant for goods carriage, shall not be covered.
(II) Life Insurance Services [Sec. 65(105)(zx)
The scope of the ‘Life Insurance serves’ has been widened to cover all the
services provided to any person provided by any insurer including re-insurer
carrying on life insurance business. Earlier it was limited to the service provided
to policyholders only.
Further more, it is also being provided that tax shall be charged on the portion of
the premium other than what is allocated for investment, when the break-up of
premium is shown separately in any document given to the policy holder.
The composition rate is being increased from 1% to 1.5%.
(III) Club or association service [Sec. 65(105)(zzze)
The scope of club or association services has been extended to cover the services
provided to its non-members along with it members.
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7. (IV) Business Support Services [65(105)(zzzq)
The scope of service of business support has been expended by amending the
definition of ‘Business Support Service’ to cover the all operational or
administrative assistance in any manner.
(V) Legal consultancy services [65(105)(zzzzm)
The scope of ‘Legal consultancy services’ is being expanded by bringing within
its ambit the;
a) Service provided by a business entity to individuals in relation to advice,
consultancy or assistance in any branch of law, in any manner;
b) Representative service provided by any person to any business entity
(representational services, provided to individuals will continue to be
exempt); and
c) Service of ‘arbitration’ provided by an arbitral tribunal to any business
entity
Crux: - All the legal consultancy services shall be liable to service tax except legal
services provided by an individual to another individual and
representative services to an individual.
(VI) Health Services [65(105)(zzzzo)
The scope of ‘Health Services’ is being expanded by including;
i. All services, including diagnostics services, provided by an centrally air
conditioned (wholly or partially) clinical establishment having more than
25 beds for in-patient treatment during any part of the year;
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8. ii. Diagnostic services being provided by a clinical establishment with an aid
of laboratory or other medical equipment; and
iii. Services provided by a doctor, not being an employee of a clinical
establishment, from the premises of such establishment.
In view of the coverage of health services under (a), (b) and (c) above, the
existing health service where payments are required to be made directly by the
insurance company or business entities would no longer be operational.
(VII) Commercial Training or Coaching Centre 65(105)(zzc)
The scope of the ‘Commercial Training or Coaching Services’ have been widened
by amending the definition of ‘Commercial training or coaching centres’ to cover
all unrecognized courses within the tax net irrespective of the fact that such
courses are conducted by an institute which also conducts courses which may
lead to grant of a recognized degree or diploma.
All the above changes will come into effect from a date to be notified, after the
enactment of Finance Bill, 2011.
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9. 5. Changes in Service Tax Act
The following changes have been proposed to amend the other provision of
Finance Act, 1994 (Service Tax Act).
(I) Penalty for delay in filing service tax return [Sec. 70]
Section 70 prescribes the maximum penalty in case of delay of return filing. The
maximum penalty, under this section has been increased from Rs. 2,000 to 20,000.
However, the existing rate of penalty per day as prescribed under rule 7C of the
Service Tax Rules are being retained without any change.
(II) Reduction in penalty amount [Sec. 73]
The benefit of reduction of penalty in cases of fraud, collusion etc. which was
available under section 73 has been withdrawn by omitting sub-section (1A) of
section 73 together with both the proviso to sub-section (2) of section.
Further, a new sub-section (4A) is being inserted in section 73 to provide that
reduction of penalty shall be available in cases where during the audit,
verification or investigation, it is found that the transaction not reported to the
department are available in the records or invoices. Moreover, the penalty is
being reduced to 1% per month of tax amount upto a maximum of 25%.
(III) Reduction in interest [Sec. 73B and section 75]
Appropriate provisos has been inserted both in section 73B and section 75 to
reduce the interest rate by 3% for the assessees whose value of taxable services
during the financial year does not exceed Rs. 60 Lakhs.
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10. (IV) Penalty for delay in payment of service tax [Sec.76]
The penalty for delay in making the payment of service tax has been reduced
from Rs. 200 per day to Rs. 100 per day or from 2% to 1% per month whichever is
higher.
Also the maximum penalty has been reduced from 100% to 50% of the tax
amount.
(V) Penalty for contravention of rules and provision of act [Sec. 77]
The penalty prescribed u/s 77 for contravention of rules and provisions of the act
for which no penalty is specified elsewhere, has been increased from Rs. 5,000/-
to Rs. 10,000/-.
(VI) Penalty for suppressing etc of value of taxable services [Sec. 78]
Section 78 has been amended to revise the maximum penalty. Hereafter, penalty
will be mandatory and equal to tax evaded. Moreover, in cases, where the
transactions which are available on records are not reported to the department,
shall be equal to 50% of the tax amount.
Further, the penalty is being reduced to 25% of the tax amount in cases where tax
dues are paid within 30 days along with interest and reduced penalty.
Furthermore, for assessees whose value of taxable services during the any year
covered by the SCN does not exceed Rs. 60 Lakhs, the period of 30 days shall be
revised to 90 days.
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11. (VII) Other changes
(i) Amend the power to waive penalty u/s 80. While penalties u/s 76 and 77
are being retained, penalty u/s 78 is being waived only in cases where the
transactions are captured in the specified records.
(ii) The power to issue warrant u/s 82 has been shifted from ‘Commissioner of
Central Excise’ to ‘Joint Commissioner of Central Excise’ and execution of
such warrant at the level of Superintendent.
(iii) Make section 9A, 9AA, 9B, 9E, 34A and new section 35R of the Central
Excise Act, 1944 applicable to service tax under section 83.
(iv) A new section 88 is being inserted to create first charge on the property of
the defaulter for recovery of service tax dues from such defaulter subject to
provisions of section 529A of Companies Act, the Recovery of Debt due to
Bank and Financial Institution Act, 1993 and Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest Act,
2002.
(v) Reintroduce the provisions relating to prosecution u/s 89 which may be
upto 3 years imprisonment. The prosecution shall apply in the following
cases;
a. Provision of service without invoice;
b. Availment and utilization of Cenvat credit without receipt of inputs or
input services;
c. Submitting false informations and
d. Non-payment of collected amount of service tax for a period of more
than 6 months.
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12. All the above changes from point (I) to (VII) will come into effect from a date
to be notified, after the enactment of Finance Bill, 2011.
(vi) The interest rate (i) u/s 75 for delay in payment of service tax and u/s 73B
for payment of service being received in excess is being proposed to
increase from 13% to 18%.
This change shall come into effect from 01.04.2011.
6. Changes in the Rules or notification
The following changes have been proposed to amend the rules/notifications
made to implement the service tax act. The details are as under;
(I) Works Contract Rules, 2007
A new sub-rule 2A has been inserted to captioned rules to provide that the credit
of tax on input services of ‘Erection, commissioning or installation’, ‘Commercial
or industrial construction’ and ‘Construction of complex’ services as used by a
person providing ‘Works contract service’ shall be restricted to 40% of tax paid,
when such input tax has been paid on full value of the service after availment of
Cenvat credit on inputs. Such change shall come into effect from 01.03.2011.
(II) Service Tax (Determination of Value) Rules, 2006
A) Value of money changing services;
(i) For a currency exchanges either from or to Indian Rupees, shall be
equal to the units of currency exchanged multiplied by difference in
the buying rate or the selling rate, as the case may be, and the RBI
reference rate for that currency for that day;
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13. (ii) For the currency, where the RBI reference rate is not available, shall
be equal to 1% of the gross amount of Indian Rupees provided or
received, by the person changing the money;
(iii) Where neither the currency exchanged is Indian Rupees, shall be
equal to1% of the lesser amount to two amounts the person changing
the money would have received if such currencies are converted to
the Indian Rupees.
B) Value of Telecommunication services, shall be equal to gross amount
charged by the telegraph authority from the service receiver.
These amendments shall come into effect from 01.04.2011.
(III) Service Tax Rules, 1994
The appropriate amendment has been proposed to make in the Service Tax
Rules, 1994 to implement the following changes;
(i) The basis of charging rate of tax has been shifted from cash basis to the
basis when the services are deemed to have been provided. To implement
such provision, new set of rules named ‘Point of Taxation Rules, 2011’ has
been prescribed.
Under the ‘Point of Taxation Rules, 2011’ point of taxation shall be the
date which (i) provision of service, (ii) receipt of payment or (iii) issuing
the invoice whichever is earlier.
(ii) The monetary limit of Rs. 1,00,000/- prescribed under Rule 6(4B)(iii) for
adjustment of excess payment has been increased to Rs. 2,00,000/-.
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14. (iii) A new Rule 6(6A) has been inserted to provide that if any amount of
service tax has been self-assessed and not paid, the same shall be
recoverable with interest under section 87 of the Act. Thus, there will be
not need to resort to section 73.
(iv) Rule 6(7A) of Service Tax Rules, 1994 is being amended to provide that an
insurer carrying on life insurance business have the option to pay tax,-
a. On the amount of premium charged from a policy holders reduced
by the amount allocated for investment, where the breakup of the
amount allocated for investment is shown separately to the policy
holder;
b. On an amount calculated @1.5% of the gross amount of premium
charged from a policy holder in cases other than (i) above;
towards the discharge of his service tax liability instead of paying service
tax at the rate specified in section 66 of Finance Act, 1994. Such option
shall not be available in cases where the entire premium paid by the
policy holder is only towards risk cover in life insurance.
(v) Rule 6(7B) of above Rules pertaining to sale and purchase of foreign
exchange is being amended to, -
(i) Omit the proviso as well as the illustration; and
(ii) Reduce the composition rate from 0.25% to 0.1% of the gross
amount of currency exchanged towards discharging of service tax
liability.
The above changes in the point (i) to (v) shall be effective 01.04.2011.
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15. (IV) Other changes
(i) Appropriate changes have been made in Export of Service Rules, 2005 and
Taxation of Service (Provided from outside and Received in India) Rules,
2006 above rules to amend so as to move some of the specified services
from one category to another.
(ii) An abatement of 25% from taxable value is being provided for the
purpose of levy of service tax under ‘Transport of goods through coastal
and inland shipping’.
These above other changes shall be effective from 01.03.2011
7. Exemptions
The following changes have been proposed to extend/withdraw the exemptions.
The details are as under:
(i) A new section 96J has been inserted to Finance Act, 1994 to provide the
exemption to the club or association formed for representing industry or
commerce, for the period form 16/06/2006 to 31/03/2008. Such club or
association can claim refund of service tax if already paid during such
period.
(ii) Retrospective effect has been given to the amendment to notification no.
20/2009 dated 07/07/2009 exempting service tax on inter-State or intra-
State transportation of passengers in a vehicle bearing contract carriage
permit or a tourist vehicle permit for the period from 01.04.2000 to
06.07.2009.
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16. The above changes in point (i) & (ii) shall be effective from the date to be
notified after enactment of the Bill.
(iii) The rates of service tax on travel by air are being revised which are as
under:
a. Domestic Travel (economy class) : from Rs. 100 to Rs. 150
b. International Travel (economy class) : from Rs. 500 to Rs. 750
c. Domestic Travel : (Standard rate)
The above changes in point (iii) shall be effective from 01.04.2011.
(iv) Exemption is being proposed to services provided by an organizer of
business exhibitions in relation to business exhibitions held outside
India.
(v) Exemption is being provided to ‘works contract’ services provided for
construction or finishing of new residential complex under ‘Jawaharlal
Nehru National Urban Renewal Mission’ and ‘Rajiv Awaas Yojana’.
(vi) Exemption is being provided to ‘General Insurance Services’ when
provided under ‘Rashtriya Swasthya Bima Yojana’.
(vii) Exemption is being provided to ‘Works Contract’ services provided
within a port or other port or an airport for specified services.
The above changes in point (iv) to (vii) shall be effective from 01.03.2011
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17. (viii) Exemption has been extended to services of transportation of goods by
air, roads or air when both the origin and the destination are located
outside India.
(ix) Value of air freight included in the assessable value of goods for charging
customs duties is being excluded from taxable value for the purpose of
levy of service tax under the ‘Transport of goods by air, services.
(x) A modified scheme is being introduced to refund service tax to SEZ units
and developers and notification no. 9/2009 –ST is being superceded. In
the modified scheme, ‘wholly consumed’ services are being defined in the
notification in order to extend ‘outright exemption’ and to permit refund
of all other services on a proportionate basis.
The above changes in point (viii) to (x) shall be effective from 01.04.2011
The end
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