TMI BlogExtracts - Addressing various proposal of theBudget 2003X X X X Extracts X X X X X X X X Extracts X X X X ..... 2) Service tax 8% is proposed to be imposed on the following services (to be effective from a date to be notified). a) Commercial vocational institutes, coaching centers and private tutorials. b) Technical testing and analysis (excluding health and diagnostic testing), technical certification. c) Maintenance and repair services namely, Annual Maintenance Contracts (AMC) and other maintenan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Presently the services provided by banks and body corporates in relation to foreign exchange are covered under Service Tax. The proposal is to extend the same to proprietorship, partnership and other individual concerns providing such services. 3) The present exemption from service tax on hotels has been extended beyond 31.3.2003. 4) Exemption from service tax when payments are received in co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Finance Act, 1994 retrospectively along with insertion of a new section 71A for the period 16.7.1997 to 16.10.1998 [ 150 of the Finance Bill]. Basically, this change will require the assessees (service receiver in respect of GTO and C F services) to file a fresh return within 6 months from the date of enactment of Finance Bill which can then be assessed. This is a validating provision. 12.2 Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c features of Service Tax Scheme, its procedures and obligations well in advance. It would be usefril if some meetings with the assessees are also conducted in the Commissionerates to explain the features of Service Tax to them. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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