Service Tax

1
11/21/2012
Define service.
Defn. of service u/s 65(105)of fin Act 1994 has been done away with. Service presently defined u/s 65(44) means any activity for consideration ,carried out by a person for another& includes declared services but excludes tranfer of title of goods ,immovable properties Etc
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Activity?
Not defined in the act . Law of lexicon defines any cost incurring operation
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Who is a person?
Persons may be natural or artificial.
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Taxable territory
The territory to which the finance act applies
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India or domestic territory

Has been defined which means the whole of India including territorial waters & continental shelf, but does not include areas of special economic zone( SEZ Act )
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Services by govt. departments

The following services provided by govt . departments will be covered. 1)Speed post,express parcel post, life insurance, 2)Services in relation to aircraft,vessel 3)Transport of goods & passengers 4)Birth certificates, death, marriage,completion certificate etc. 11/21/2012
When was service tax introduced?
Service tax was introduced in the year 1994.
Is there any separate act for service tax?
No. There is no separate Act.
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Match the rate with year

9
Present Rate -2012= 12% + ed etc
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10
As per sec 68 every person receiving taxable service is liable to pay service tax
Not receiver but service provider is liable to pay service tax. In special cases where receiver is liable it is called Reverse charge.
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11
Which of the following provisions are common to CE/CUSTOMS/ST

ALL ARE INDIRECT TAXES PRINCIPALLY BASED ON TRANSACTION VALUE APPEAL PROVISIONS ARE IDENTICAL ENFORCEMENT PROVISIONS ARE SAME ALL THE ABOVE
Ans ;E
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True or false
12
1)Service tax is payable on gross amount charged by service Provider for service provided or to be provided 2)Gross amount charged for taxable service can be before ,during Or after provision of service
3)Service tax is payable on cash discount recd/allowed
1) T
2)T
3)F
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13
A B C D
The bio-data of Lucky Singh states Service in MNC 9 am to 5 pm under occupation. Is Lucky Singh liable for Service Tax Yes Yes, if he is employed in Defence Services No, because his service in MNC amounts to export No, because Service Tax is not attracted on employees
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14
A B C D
The bio-data of Lucky Singh states Service in MNC 9 am to 5 pm under occupation. Is Lucky Singh liable for Service Tax Yes Yes, if he is employed in Defence Services No, because his service in MNC amounts to export No, because Service Tax is not attracted on employees
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15
A B C D
Sales Tax is payable in respect of transactions of __________ while service tax is payable in respect of provisions of _________ Goods Services Either Neither
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16
A B C D
Sales Tax is payable in respect of transactions of __________ while service tax is payable in respect of provisions of _________ Goods Services Either Neither
Discuss BSNL
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17
A B C D
Generally, Service Tax is payable by the service provider the service receiver neither of them either of them
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18
A B C D
Generally, Service Tax is payable by the service provider the service receiver neither of them either of them
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19
But the burden of Service Tax always lies upon A the service provider B the service receiver C neither of them D either of them
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20
But the burden of Service Tax always lies upon A the service provider B the service receiver C neither of them D either of them
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21
However, in the case of reverse charge mechanism A the burden of tax lies upon the service provider but is paid by the service receiver B the burden of tax lies upon the service receiver but is paid by the service provider C the burden of tax lies upon the service receiver & is paid by the service receiver D the burden of tax lies upon the service provider & is paid by the service provider Discuss instances of reverse charge mechanism
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22
However, in the case of reverse charge mechanism A the burden of tax lies upon the service provider but is paid by the service receiver B the burden of tax lies upon the service receiver but is paid by the service provider C the burden of tax lies upon the service receiver & is paid by the service receiver D the burden of tax lies upon the service provider & is paid by the service provider Discuss instances of reverse charge mechanism
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23
A B C D
Instances of such reverse charge mechanism include Goods Transport by Road, Import of Services, Insurance Auxiliary Service & Sponsorship Goods Transport by Rail, Export of Services & Franchise neither of the above both the above
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24
A B C D
Instances of such reverse charge mechanism include Goods Transport by Road, Import of Services, Insurance Auxiliary Service & Sponsorship Goods Transport by Rail, Export of Services & Franchise neither of the above both the above
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25
A B
Billoo Barbers saloon is covered under service tax as a beauty parlour true false
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26
A B
Billoo Barbers saloon is covered under service tax as a beauty parlour true false
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27
A B
Pilloo Nai, in rural India, visits his customers for hair-cut. He is not liable for service tax true false
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28
A B
Pilloo Nai, in rural India, visits his customers for hair-cut. He is not liable for service tax true false Because beauty treatment provided by a beauty parlour is taxable. Same is true of beauticians who visit their clients for beauty treatment
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29
A B
Dry Cleaning Services are covered under Service Tax not covered under Service Tax
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30
A B
Dry Cleaning Services are covered under Service Tax not covered under Service Tax
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31
A B C D
Amitabh Bachchan is covered under service-tax category of Actor Model Star Business Auxiliary Service
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32
Amitabh Bachchan is covered under servicetax category of A Actor B Model C Star D Business Auxiliary Service (19) business auxiliary service means any service in relation to, (i) promotion or marketing or sale of goods produced or provided by or belonging to the client; or (ii) promotion or marketing of service provided by the client; or
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33
A B C D
Principal-Manufacturer sends steel circles to a JobWorker & gets back bowls made by the latter. The Job-Worker is liable for Service-Tax The Principal-Manufacturer is liable for Excise-Duty The Job-Worker is liable for Excise Duty Facts are insufficient
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34
Principal-Manufacturer sends steel circles to a JobWorker & gets back bowls made by the latter. A The Job-Worker is liable for Service-Tax B The Principal-Manufacturer is liable for Excise-Duty C The Job-Worker is liable for Excise Duty D Facts are insufficient (19) business auxiliary service means any service in relation to, (v) production or processing of goods for, or on behalf of, the client; and includes services as a commission agent, but does not include any activity that amounts to manufacture within the meaning of clause (f) of section 2 of the Central Excise Act, 1944 (1 of 1944).
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35
A B C D
Service Tax was introduced in the year 1944 1994 2004 none of the above
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36
A B C D
Service Tax was introduced in the year 1944 1994 2004 none of the above
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37
A B C D
______________________ is the starting point in Service Tax administration Exemption Payment Returns Registration
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38
A B C D
______________________ is the starting point in Service Tax administration Exemption Payment Returns Registration
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39
A B C D
Assessees must generally pay the Service Tax for the tax period on or before the end of the tax period first of the next month fifth of the next month end of the next month
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40
A B C D
Assessees must generally pay the Service Tax for the tax period on or before the end of the tax period first of the next month fifth of the next month end of the next month
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41
A B C D
But net savvy assessees who have adopted internet banking may pay by end of the next month first of the next month fifth of the next month sixth of the next month
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42
A B C D
But net savvy assessees who have adopted internet banking may pay by end of the next month first of the next month fifth of the next month sixth of the next month
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43
A B C D
Service Tax liability may be paid by cash only bank only partly by cash/bank & partly by cenvat credit cenvat credit only
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44
A B C D
Service Tax liability may be paid by cash only bank only partly by cash/bank & partly by cenvat credit cenvat credit only
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45
A B C D
Payment made via internet banking upto ____ on the 6th will be considered as payment made in time 8 am 8 pm mid-noon mid-night
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46
A B C D
Payment made via internet banking upto ____ on the 6th will be considered as payment made in time 8 am 8 pm mid-noon mid-night
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47
A B C D
In case of traditional payments over bank counters __________ will be treated as payment made in time date of realization of cheque date of the cheque date of presenting the cheque at the bank, if the cheque is not bounced unpaid date of presenting the cheque at the bank, if the cheque is bounced unpaid
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48
A B C D
In case of traditional payments over bank counters __________ will be treated as payment made in time date of realization of cheque date of the cheque date of presenting the cheque at the bank, if the cheque is not bounced unpaid date of presenting the cheque at the bank, if the cheque is bounced unpaid
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49
A B C D
But March is a special month & hence all Service Tax liability must be paid before first of March middle of March end of March middle of April
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50
A B C D
But March is a special month & hence all Service Tax liability must be paid before first of March middle of March end of March middle of April
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51
A B C D
All Service Tax assessees are bound to furnish ________ return in form ______ monthly return in form ST-1 quarterly return in form ST-2 half-yearly return in form ST-3 annual return in form ST-4
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52
A B C D
All Service Tax assessees are bound to furnish ________ return in form ______ monthly return in form ST-1 quarterly return in form ST-2 half-yearly return in form ST-3 annual return in form ST-4
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53
A B
Renting of immovable property without granting possession is not liable to service tax liable to service tax
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54
A B
Renting of immovable property without granting possession is not liable to service tax liable to service tax
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55
A B C D
Examples of such renting include mobile phones taken on lease mobile phones taken on rent mobile towers on premises owned by mobile companies mobile towers on residential apartment terraces
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56
A B C D
Examples of such renting include mobile phones taken on lease mobile phones taken on rent mobile towers on premises owned by mobile companies mobile towers on residential apartment terraces
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57
A B
Since renting of immovable property is liable for service tax, cenvat credit is available in respect of materials & services used in building the property true false
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58
A B
Since renting of immovable property is liable for service tax, cenvat credit is available in respect of materials & services used in building the property true false
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59
B C D
Renting of immovable property with possession is __________ not liable for service tax at all, as per Honourable Delhi High Court recent Decision liable for service tax in all cases liable for service tax in case of commercial use liable for service tax in case of non-commercial use
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60
Renting of immovable property with possession is __________ A not liable for service tax at all, as per Honourable Delhi High Court recent Decision B liable for service tax in all cases C liable for service tax in case of commercial use D liable for service tax in case of non-commercial use Discuss recent budgetary amendments Page 47/chapter3
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61
A B
Renting of movable property without granting possession is ____________ not liable to service tax liable to service tax
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62
A B
Renting of movable property without granting possession is _____________ not liable to service tax liable to service tax
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63
A B C D
Examples of such renting sans possession include Delivery by internet Video-Library Cranes & Road-Rollers none of the above
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64
A B C D
Examples of such renting sans possession include Delivery by internet Video-Library Cranes & Road-Rollers none of the above
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65
A B C D
Organising sale of lottery ticket attracts _______ no service tax service tax as Business Auxiliary Service service tax as Financial Service none of the above
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66
A B C D
Organising sale of lottery ticket attracts _______ no service tax service tax as Business Auxiliary Service service tax as Financial Service none of the above
Discuss recent budgetary amendments
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67
A B C D
Premium paid on life insurance policies (LIP) finds 2 important routes of outgo in the hands of the insurance company ______________ & _________________ expense & investment income & expense investment & risk premium none of the above
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68
A B C D
Premium paid on life insurance policies (LIP) finds 2 important routes of outgo in the hands of the insurance company ______________ & _________________ expense & investment income & expense investment & risk premium none of the above
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69
The investment portion in the LIP is ______________ & the re-insurance portion is _________ A liable to service tax not liable to service tax B not liable to service tax .liable to service tax C not liable to service taxnot liable to service tax D liable to service tax....liable to service tax
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70
The investment portion in the LIP is ______________ & the re-insurance portion is _________ A liable to service tax not liable to service tax B not liable to service tax .liable to service tax C not liable to service taxnot liable to service tax D liable to service tax ....liable to service tax
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71
A B C D
Normally, a service provider is obliged to issue ________ for service charges bill or invoice cheque or draft cash none of the above
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72
A B C D
Normally, a service provider is obliged to issue ________ for service charges bill or invoice cheque or draft cash none of the above
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73
A B
Banking & Financial Services Sector is _________ under the Service Tax net covered not covered
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74
A B
Banking & Financial Services Sector is _________ under the Service Tax net covered not covered
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75
Classification of services is effected by the following rules : 1)Specific description to be preferred over general description 2)Classification should be as per essential character in case of composite services 3)Service which appears earlier in the list 4)All the above
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76
A B
The rule about issuing an invoice or bill is _________ in case of Banking & Financial Services Sector relaxed strictly followed
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77
A B
The rule about issuing an invoice or bill is _________ in case of Banking & Financial Services Sector relaxed strictly followed
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78
A B C D
Banking & Financial Services Sector may therefore treat ___________ as the appropriate document in place on invoice/bill pay-in-slip cheque-book debit-voucher credit-note
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79
A B C D
Banking & Financial Services Sector may therefore treat ___________ as the appropriate document in place on invoice/bill pay-in-slip cheque-book debit-voucher credit-note
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80
A B
Practicing Company Secretary/Chartered Accountant/Cost Accountant is ______________ for Service Tax liable not liable
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81
A B
Practicing Company Secretary/Chartered Accountant/Cost Accountant is ______________ for Service Tax liable not liable
Discuss exemption notification
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82
A B
Goods transport by road is ___________ under the Service Tax net not covered covered
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83
A B
Goods transport by road is ___________ under the Service Tax net not covered covered
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84
A B C D
Goods Transport Operators are obliged to give ______________ in respect of their carriage of goods for the purposes of Service Tax bilty LR consignment note delivery challan
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85
A B C D
Goods Transport Operators are obliged to give ______________ in respect of their carriage of goods for the purposes of Service Tax bilty LR consignment note delivery challan
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86
Consignment note is a document that contains details of A consignment B consignment + journey C consignment + journey + party who must bear the service tax D none of the above Discuss Bangalore Tribunal judgment
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87
A B C D
Consignment note is a document that contains details of consignment consignment + journey consignment + journey + party who must bear the service tax none of the above
Discuss Bangalore Tribunal judgment
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88
A B
The person who pays the freight is ___________ service tax in respect of Goods transport by road liable for exempt from
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89
A B
The person who pays the freight is ___________ service tax in respect of Goods transport by road liable for exempt from
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90
A B
Entertainment sector is ______________ under the Service Tax net not covered covered
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91
A B
Entertainment sector is ______________ under the Service Tax net not covered covered
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92
Broadcasting Agency is liable for Service Tax A Only if the agency is located in India B Only if the agency is located abroad C Whether the agency is located in India or abroad D none of the above
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93
Broadcasting Agency is liable for Service Tax A Only if the agency is located in India B Only if the agency is located abroad C Whether the agency is located in India or abroad D none of the above
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94
A B C D
If the broadcasting agency is located abroad ___________________ will become liable for Service Tax Its foreign office The local representative/agent who collects money The foreign Government none of the above
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95
A B C D
If the broadcasting agency is located abroad ___________________ will become liable for Service Tax Its foreign office The local representative/agent who collects money The foreign Government none of the above
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96
A B C D
According to Service Tax regulations Mandap is ______ property & Pandal is _____ property movable.movable immovable.immovable immovable.movable movable.immovable
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97
A B C D
According to Service Tax regulations Mandap is ______ property & Pandal is _____ property movable.movable immovable.immovable immovable.movable movable.immovable
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98
A B C D
_________ is a measure of the extent of taxation in a country GDP Budgeted Tax Receipts Tax:GDP ratio GDP:Tax ratio
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99
A B C D
_________ is a measure of the extent of taxation in a country GDP Budgeted Tax Receipts Tax:GDP ratio GDP:Tax ratio
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100
A B C D
India is a _____________ taxed nation with Tax:GDP ratio at ______ lowly .13% moderately ...25% highly .40% none of the above
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101
A B C D
India is a _____________ taxed nation with Tax:GDP ratio at ______ lowly .13% moderately ...25% highly .40% none of the above
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102
Country Sweden
Tax:GDP% 51.3
Country France
Tax:GDP% 44.0
Italy
Brazil New Zealand Australia Japan Mexico Beyond
40.6
37.4 36.6 30.9 27.4 19.9 Top 50
Germany
UK Canada Switzerland USA
38.8
37.0 33.4 29.7 27.3
India
13.0
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103
A B C D
Government collects taxes for ______________ & __________________ Geo-Political needs Economic development Upliftment of the poor abolition of poverty
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104
A B C D
Government collects taxes for ______________ & __________________ Geo-Political needs Economic development Upliftment of the poor abolition of poverty
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105
A B C D
Examples of Geo-Political needs are Coastal Dunes & Windmills of Denmark District Heating of Canada Defense compulsions of India all the above
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106
A B C D
Examples of Geo-Political needs are Coastal Dunes & Windmills of Denmark District Heating of Canada Defense compulsions of India all the above
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107
IT Software designed for my office is ___________ & the one designed for my wifes kitchen requirements is _____________ A exempt .. exempt B taxable taxable C exempt taxable D taxable ..exempt
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IT Software designed for my office 108 is ___________ & the one designed for my wifes kitchen requirements is _____________ A exempt .. exempt B taxable taxable C exempt taxable D taxable ..exempt

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109
A B
Realty sector is _______________ not liable liable
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110
A B
Realty sector is _______________ not liable to service tax liable to service tax
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111
A B
Forex Brokers are into the service tax net true false
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112
A B
Forex Brokers are into the service tax net true false
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113
A B
Forex Brokers have the option to declare their spread true false
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114
A B
Forex Brokers have the option to declare their spread true false
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115
A B
In case they declare their spread, they pay service tax @ normal rate on their spread true false
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116
A B
In case they declare their spread, they pay service tax @ normal rate on their spread true false
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117
A B C D
If they opt to conceal their spread/margins, they pay service tax @ ______ % of the gross amount 0.25 2.50 25.0 none of the above
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118
A B C D
If they opt to conceal their spread/margins, they pay service tax @ ______ % of the gross amount 0.25 2.50 25.0 none of the above
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119
A B C D
The rate of service tax at present is 14% 12% 10% 8%
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120
A B C D
The rate of service tax at present is 14% 12% 10% 8%
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121
A B C D
On top of this an assessee pays 2% entertainment cess + 1% she-cess 3% entertainment cess 1% e-cess + 2% she-cess 2% education cess + 1% secondary & higher education cess
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122
A B C D
On top of this an assessee pays 2% entertainment cess + 1% she-cess 3% entertainment cess 1% e-cess + 2% she-cess 2% education cess + 1% secondary & higher education cess
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123
A B C D
Therefore, if a Service-Tax Assessee earns service charges of Rs.50,000/=, then he must pay service tax as follows Rs.5,000/= + Rs.1,000/= + Rs.500/= Rs.5,000/= + Rs.100/= + Rs.50/= either of the above neither of the above
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124
A B C D
Therefore, if a Service-Tax Assessee earns service charges of Rs.50,000/=, then he must pay service tax as follows Rs.5,000/= + Rs.1,000/= + Rs.500/= Rs.5,000/= + Rs.100/= + Rs.50/= either of the above neither of the above
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125
CENVAT CREDIT
11/21/2012
T.Venkataramanan.FCA
BACK GROUND
126
Excise and Service tax are central taxes, expected to be consumption based taxes to the extent practicable. Till the goods or service is finally consumed, the burden of excise duty and service tax is passed on to next buyer, who gets credit of the tax and excise duty paid by the supplier/ service provider. Thus, effectively, tax is paid on value added at each stage,
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127
Cenvat credit is a mechanism of A earning credits on all inputs for payment of specified tax liability B earning credits on all inputs + input services for payment of specified tax liability C earning credits on all inputs + input services + capital goods for payment of specified tax liability D earning credits on specified inputs + input services + capital goods for payment of specified tax liability
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128
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The Cenvat scheme is principally based on system of granting debit of duty paid on inputs and input 129 services
It is credit & not debit
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130
A manufacturer or service provider has to pay excise duty and service tax as per normal procedure on the basis of Assessable Value (which is mainly based on selling price). However, he gets credit of duty paid on inputs and service tax paid on input services. Thus, he actually pays amount equal to duty/ service tax as shown in invoice less the Cenvat credit available to him.
True or false
True
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131
Cenvat credit is a mechanism of A earning credits on all inputs for payment of specified tax liability B earning credits on all inputs + input services for payment of specified tax liability C earning credits on all inputs + input services + capital goods for payment of specified tax liability D earning credits on specified inputs + input services + capital goods for payment of specified tax liability
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132
A B C
D
Capital goods under the cenvat credit scheme ___________ must be used within the factory premises may be used within the office premises may be used in work connected with manufacturing outside the factory premises may be used in work connected with manufacturing outside the factory premises for production of exempt goods
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133
A B C
D
Capital goods under the cenvat credit scheme ___________ must be used within the factory premises may be used within the office premises may be used in work connected with manufacturing outside the factory premises may be used in work connected with manufacturing outside the factory premises for production of exempt goods
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134
A B
C D
Capital goods under the cenvat credit scheme includes motor vehicles true true, only for courier agency, tour-operator, rent-acab scheme operator, cargo handling agency, outdoor caterer & pandal or shamiana contractor true, only for goods transport agency false
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135
A B
C D
Capital goods under the cenvat credit scheme includes motor vehicles true true, only for courier agency, tour-operator, rent-acab scheme operator, cargo handling agency, outdoor caterer & pandal or shamiana contractor true, only for goods transport agency false
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136
A B
Inputs under the cenvat credit scheme include LDO, HSD oil & Petrol true false
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137
A B
Inputs under the cenvat credit scheme include LDO, HSD oil & Petrol true false
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138
A B
Inputs under the cenvat credit scheme include accessories of final products cleared along with the final product true false
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139
A B
Inputs under the cenvat credit scheme include accessories of final products cleared along with the final product true false
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140
A B
Inputs under the cenvat credit scheme include fuel for generation of power or steam for use in production or for any other purpose within the factory true false
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141
A B
Inputs under the cenvat credit scheme include fuel for generation of power or steam for use in production or for any other purpose within the factory true false
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142
A B
Inputs under the cenvat credit scheme include goods used for manufacturing capital goods which are meant for further use in production within the factory true false
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143
A B
Inputs under the cenvat credit scheme include goods used for manufacturing capital goods which are meant for further use in production within the factory true false
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144
A B
Inputs service means any service used by the manufacturer, whether directly or indirectly, in or in relation to manufacture & clearance of final products, upto the place of removal true false
Discuss gto, cfa + metro shoes judgments + master circular
11/21/2012
Cenvat Credit Rules do require input-output correlation to be established.

145
2.
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146
A B
Inputs service means any service used by the manufacturer, whether directly or indirectly, in or in relation to manufacture & clearance of final products, upto the place of removal true false
Discuss gto + phones/mobiles
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147
Inward freight is _______ & outward freight is ______________ A Input Service.Output Service B Input Service.Input Service C Output Service...Output Service D Output ServiceInput Service
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148
Inward freight is _______ & outward freight is ______________ A Input Service.Output Service B Input Service.Input Service C Output Service...Output Service D Output ServiceInput Service
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149
A B C D
For the purposes of cenvat credit of input services like GTO sale & purchase means transfer of property transfer of possession both either
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150
A B C D
For the purposes of cenvat credit of input services like GTO sale & purchase means transfer of property transfer of possession both either But Ambuja Cement judgment was delivered on a different footing A (Transfer of Property)
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151
SRK & Gauri go to Paris for a holiday. There they meet Guy Laroschey owner of a hair cutting saloon. Both have haircut for US$1,000/= each. On their return they are told by their tax consultant that import of service tax rules applies, under which they must pay service tax. Next day at an evening party Akshay Kumar tells SRK that Guy Laroschey was in India last month. He did his haircut for some film. SRK says his haircut is a personal matter
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152
1
2 3
SRK haircut is liable for service tax Gauri Khan haircut is liable for service tax Akshay Kumars haircut is liable for service tax None of these haircuts is liable for Service Tax
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153
1
2 3
SRK haircut is liable for service tax Gauri Khan haircut is liable for service tax Akshay Kumars haircut is liable for service tax None of these haircuts is liable for Service Tax
11/21/2012
154
1 2
Guy Laroschey had actually changed SRK hairstyle from left parting to right parting a week after returning SRK shot for a Pepsi ad with right parting SRK haircut is now taxable in India SRK haircut is still not taxable in India But Guy Laroschey must pay service tax in India
A B C
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155
1 2
Guy Laroschey had actually changed SRK hairstyle from left parting to right parting a week after returning SRK shot for a Pepsi ad with right parting SRK haircut is now taxable in India SRK haircut is still not taxable in India But Guy Laroschey must pay service tax in India
A B C
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156
A B C D
Cost of CG = Rs.100,00,000/=, Excise Duty Rs.10,00,000/=. Depreciation under IT law availed @25% = Rs.27,50,000/=. The assessee can avail ____________ CG cenvat credit Rs.110,00,000/= Rs.10,00,000/= Rs.5,00,000/= nil
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A B C D
Cost of CG = Rs.100,00,000/=, Excise Duty Rs.10,00,000/=. Depreciation under IT law availed @25% = Rs.27,50,000/=. The assessee can avail ____________ CG cenvat credit Rs.110,00,000/= Rs.10,00,000/= Rs.5,00,000/= nil
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158
A
B C D
50% cenvat credit of capital goods is available _________ & the balance _________ in the next financial year . In the year thereafter in the current month . In the next month in the current financial year .. in the next financial year at the time of receipt after installation
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50% cenvat credit of capital goods is available _________ & the balance _________ A in the next financial year . In the year thereafter B in the current month . In the next month C in the current financial year .. in the next financial year D at the time of receipt after installation Discuss SSI benefits
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160
A B C
CG purchased, received & installed on 1st March 2009. Duty involved Rs.10.00 lacs find out the erroneous answer Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in March 2010 Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in April 2010 Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in April 2009 Rs.10.00 lacs available in March 2009
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161
CG purchased, received & installed on 1st March 2009. Duty involved Rs.10.00 lacs find out the erroneous answer A Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in March 2010 B Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in April 2010 C Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in April 2009 D Rs.10.00 lacs available in March 2009 Discuss SSI benefits
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162
B
C D
Boiler purchased, received & installed on 1st March 2009. Duty involved Rs.10.00 lacs. Boiler sold on 25th March 2009 Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in March 2010 Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in April 2010 Rs.10.00 lacs available in March 2009 none of the above
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163
B
C D
Boiler purchased, received & installed on 1st March 2009. Duty involved Rs.10.00 lacs. Boiler sold on 25th March 2009 Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in March 2010 Rs.5.00 lacs available in March 2009 & balance Rs.5.00 lacs in April 2010 Rs.10.00 lacs available in March 2009 none of the above
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164
A B
A practicing company secretary helps his client in his marketing effort by promoting his product to another client. The PCS must seek registration under Business Auxiliary Services & pay service tax under that head true false
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165
A B
A practicing company secretary helps his client in his marketing effort by promoting his product to another client. The PCS must seek registration under Business Auxiliary Services & pay service tax under that head true false
11/21/2012
Toyota Construction Private Limited is engaged in the business of Commercial or Industrial Construction. They build factory building using their own materials + free issues by the factory owner. Their total bill is Rs.100.00 lacs (all inclusive). Of this amount, Rs.3.00 lacs goes towards VAT (works contract). Another Rs.50.00 lacs is attributable to materials consumed in the works. Toyota must pay service tax on A Rs.100.00 lacs B Rs.97.00 lacs C Rs.50.00 lacs D Rs.47.00 lacs
11/21/2012
166
Toyota Construction Private Limited is engaged in the business of Commercial or Industrial Construction. They build factory building using their own materials + free issues by the factory owner. Their total bill is Rs.100.00 lacs (all inclusive). Of this amount, Rs.3.00 lacs goes towards VAT (works contract). Another Rs.50.00 lacs is attributable to materials consumed in the works. Toyota must pay service tax on A Rs.100.00 lacs B Rs.97.00 lacs C Rs.50.00 lacs D Rs.47.00 lacs
11/21/2012
167
1 2 3 4
A Practicing Company Secretary engaged by a MNC travels to Delhi by flight & appears before the Ministry of Finance by prior appointment. The business involves presentation to the ministry about the damage caused by cheap imports from China & pray for levy of antidumping (safe-guard) duty. The PCS raises an invoice upon the MNC clients for professional charges Rs.1.00 lacs + airfare Rs.15,000/=. Service Tax must be paid on Rs.115,000/= Rs.100,000/= Rs.15,000/= Nil
168
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169
A Practicing Company Secretary engaged by a MNC travels to Delhi by flight & appears before the Ministry of Finance by prior appointment. The business involves presentation to the ministry about the damage caused by cheap imports from China & pray for levy of antidumping (safe-guard) duty. The PCS raises an invoice upon the MNC clients for professional charges Rs.1.00 lacs + airfare Rs.15,000/=. Service Tax must be paid on 1 Rs.115,000/= 2 Rs.100,000/= 3 Rs.15,000/= 4 Nil Discuss Pure Agent
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170
pure agent means a person who (a) enters into a contractual agreement with the recipient of service to act as his pure agent to incur expenditure or costs in the course of providing taxable service; (b) neither intends to hold nor holds any title to the goods or services so procured or provided as pure agent of the recipient of service; (c) does not use such goods or services so procured; and (d) receives only the actual amount incurred to procure such goods or services.
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171
Toyota Construction Private Limited is engaged in the business of Commercial or Industrial Construction. They build factory building using their own materials + free issues by the factory owner. Their total bill is Rs.100.00 lacs. Free issues made by the client adds up to Rs.300.00 lacs. Toyota must pay service tax on __________ A Rs.100.00 lacs B Rs.200.00 lacs C Rs.30.00 lacs D Rs.400.00 lacs
11/21/2012
Toyota Construction Private Limited is engaged in the business of Commercial or Industrial Construction. They have opted for Works Contract Composition Scheme. They build factory building using their own materials + free issues by the factory owner. Their total bill is Rs.100.00 lacs. Free issues made by the client adds up to Rs.300.00 lacs. Toyota must pay service tax on __________ A B C D Rs.100.00 lacs upto 7th July 2009 RS.200.00 lacs Rs.300.00 lacs Rs.400.00 lacs after 7th July 2009
172
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173
Service tax must be paid on ________________, generally. But in case of associated enterprises, service tax must be paid on ____________ A accrual basis receipt basis B receipt basis accrual basis C accrual basis accrual basis D receipt basis . receipt basis
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174
Service tax must be paid on ________________, generally. But in case of associated enterprises, service tax must be paid on ____________ A accrual basis receipt basis B receipt basis accrual basis C accrual basis accrual basis D receipt basis . receipt basis
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Input Service Distributor means A distributor of input service B office of a service provider/manufacturer which has no liability for service-tax/excise C office of a service provider/manufacturer which has no liability for service-tax/excise but receives invoices in respect of input services D office of a service provider/manufacturer which has no liability for service-tax/excise but receives invoices in respect of input services + inputs
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176
Input Service Distributor means A distributor of input service B office of a service provider/manufacturer which has no liability for service-tax/excise C office of a service provider/manufacturer which has no liability for service-tax/excise but receives invoices in respect of input services D office of a service provider/manufacturer which has no liability for service-tax/excise but receives invoices in respect of input services + inputs
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177
A B
Input Service Distributor can pass cenvat credit to its constituent manufacturing/service providing units true false
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178
A B
Input Service Distributor can pass cenvat credit to its constituent manufacturing/service providing units true false
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179
Charak Pharma Head office receives input services involving input-service-tax of Rs.10.00 lacs. The company has 2 units one in Silvassa (dutiable) & the other in Baddi (exempt). Silvassa unit has annual sales turnover of Rs.50.00 crores, while Baddi unit has a sales turnover of Rs.150.00 crores. The HO can distribute A Rs.10.00 lacs to Silvassa unit B Rs.2.50 lacs only to Silvassa unit C Rs.5.00 lacs to Silvassa unit D nil to Silvassa unit
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180
Charak Pharma Head office receives input services involving input-service-tax of Rs.10.00 lacs. The company has 2 units one in Silvassa (dutiable) & the other in Baddi (exempt). Silvassa unit has annual sales turnover of Rs.50.00 crores, while Baddi unit has a sales turnover of Rs.150.00 crores. The HO can distribute A Rs.10.00 lacs to Silvassa unit B Rs.2.50 lacs only to Silvassa unit C Rs.5.00 lacs to Silvassa unit D nil to Silvassa unit
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181 RULE 7. Manner of distribution of credit by input service distributor. The input service distributor may distribute the CENVAT credit in respect of the service tax paid on the input service to its manufacturing units or units providing output service, subject to the following condition, namely :-
(a) the credit distributed against a document referred to in rule 9 does not exceed the amount of service tax paid thereon; or (b) credit of service tax attributable to service use in a unit exclusively engaged in manufacture of exempted goods or providing of exempted services shall not be distributed
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182
ABC bank is centrally registered administration. This means that A
for
service
tax
C D
Its central office will pay service tax in respect of its taxable services business. Its branches will not be liable for service tax at all Its central office will pay service tax in respect of its taxable services business + the taxable services business of its branches ABC bank will pay service tax to the central bank ABC bank will pay service tax to the central government
11/21/2012
183
ABC bank is centrally registered administration. This means that A
for
service
tax
C D
Its central office will pay service tax in respect of its taxable services business. Its branches will not be liable for service tax at all Its central office will pay service tax in respect of its taxable services business + the taxable services business of its branches ABC bank will pay service tax to the central bank ABC bank will pay service tax to the central government
11/21/2012
184
ABC bank is centrally registered at Mumbai for service tax administration. It has branches at Kolkata, Chennai & Delhi as well. Kolkata branch purchased 10 airconditioners for Rs.3.00 lacs, involving excise duty of Rs.30,000/= A B Kolkata branch is not paying service tax & hence cenvat credit of Rs.30,000/= is lost to the system Kolkata office can transfer the credit of Rs.30,000/= to Central (Mumbai) office for payment of service tax
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185
ABC bank is centrally registered at Mumbai for service tax administration. It has branches at Kolkata, Chennai & Delhi as well. Kolkata branch purchased 10 airconditioners for Rs.3.00 lacs, involving excise duty of Rs.30,000/= A B Kolkata branch is not paying service tax & hence cenvat credit of Rs.30,000/= is lost to the system Kolkata office can transfer the credit of Rs.30,000/= to Central (Mumbai) office for payment of service tax
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186
RULE 7A Distribution of credit on inputs by the office or any other premises of output service provider (1) A provider of output service shall be allowed to take credit on inputs and capital goods received, on the basis of an invoice or a bill or a challan issued by an office or premises of the said provider of output service, which receives invoices, issued in terms of the provisions of the Central Excise Rules, 2002, towards the purchase of inputs and capital goods
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11/21/2012

Service Tax

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1

India or domestic territory

Services by govt. departments

When was service tax introduced?

Service tax was introduced in the year 1994.

Is there any separate act for service tax?

No. There is no separate Act.

Match the rate with year

Present Rate -2012= 12% + ed etc

Which of the following provisions are common to CE/CUSTOMS/ST

3)Service tax is payable on cash discount recd/allowed

Discuss recent budgetary amendments

Discuss exemption notification

Discuss Bangalore Tribunal judgment

Discuss recent budgetary amendments

Realty sector is _______________ not liable liable

Discuss recent budgetary amendments

The rate of service tax at present is 14% 12% 10% 8%

The rate of service tax at present is 14% 12% 10% 8%

It is credit & not debit

Discuss gto, cfa + metro shoes judgments + master circular

Cenvat Credit Rules do require input-output correlation to be established.

Discuss gto + phones/mobiles

ABC bank is centrally registered administration. This means that A

ABC bank is centrally registered administration. This means that A

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