Amendment in Sec. 67

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..... Amendment in Sec. 67
Query (Issue) Started By: - Admin TMI Dated:- 1-3-2015 Last Reply Date:- 1-3-2015 Service Tax
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Service Tax
Question - What are proposed amendment in Sec. .....

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..... 67 which deals in valuation of services, in Finance Bill 2015 ? Reply By Admin TMI: The Reply: Section 67 prescribes for the valuation of taxable services. It is being prescribed specifically in thi .....

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..... s section that consideration for service shall include: (a) all reimbursable expenditure or cost incurred and charged by the service provider. The intention has always been to include reimbursable ex .....

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..... penditure in the value of taxable service. However, in some cases courts have taken a contrary view. Therefore, the intention of legislature is being stated specifically by this provision. (b) amount .....

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..... retained by the distributor or selling agent of lottery from gross sale amount of lottery ticket, or, as the case may be, the discount received, that is the difference in the face value of lottery ti .....

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..... cket and the price at which the distributor or selling agent gets such tickets.
Discussion Forum - Knowledge Sharing .....

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