wat is service tax
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The law provides the definition of Service Tax as -
"service tax" means tax leviable under the provisions of
this Chapter. And "this chapter" provides definition of
various services covered for the Service Tax. These
definitions runs into 121 numbers.
For a layman, it is a jargon of various activities,
essentially they being services and not products, with so
many ifs and buts cropping up here and there every now and
then!!
Could you understand anything?! Many of us with a practice
of so many years in the field still struggle to understand,
debate and learn new aspects about it every now and then!!
| Is This Answer Correct ? | 5 Yes | 3 No |
Answer / abdul basith africa
Service Tax is the tax charged by the
service tax department on the services
provided by the assessee.
Service tax rate is to be charged on the
net value of the services provided by the
assessee at present the applicable service
tax rate is 10.3%( inclusive of education
cess and secondary higher education
cess).
| Is This Answer Correct ? | 1 Yes | 0 No |
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