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Indirect Taxes TYBCOM Semester VI

Indirect Taxes TYBCOM Semester VI


Indirect  Taxes

TYBCOM Semester VI


1. Service Tax
1.1 Basic Terms
Terms-Service, Activity, Consideration, Person, Declared Services
Applicability of Service Tax
Registration under Service Tax law (Sec 69)
Registration Procedure
Mega Exemptions from Service Tax under Notification 25/2012, Threshold Exemption
Service Tax Returns and Penalty for late filing
Payment of service tax and rate of service tax
Negative List (Sec 66 D Specifies services which are not taxable)

1.2 Services Specifically Excluded
Transfer of title in goods or immovable property
Transfer delivery or supply of any goods which is deemed sale
Transactions on money or actionable claims
Provision of service by employee to employer
Services provided by MP, MLA, etc.
Duties preferred by persons who hold posts in pursuance of provision of constitution e.g. Central Vigilance Committee
Duties performed as a chairperson or member or director in body established by central, state Govt. or local authority

1.3 Point of Taxation
Determination of point of taxation
Point of taxation for services including continuous supply of services from 1.4.2012
Special provision for individual

2. Maharashtra Value Added Tax (MVAT)
2.1 Definitions 20
Section :
2 (4) Businesses
2 (8) Dealers
2 (12) Goods
2 (13) Importer
2 (15) Manufacturer
2 (20) Purchase Price
2 (22) Resale
2 (24) Sales
2 (25) Sales Price
2 (27) Service
2 (33) Turnover of Sales and Rule 3

2.2 Incidence of Levy of Tax
Sec. 3. Incidence of Tax
Sec. 4. Tax Payable
Sec. 5. Tax Not Leviable on Certain Goods
Sec. 6. Levy of Sales Tax on goods specified in the Schedule
Sec. 7. Rate of Tax on Packing Material
Sec. 8. Certain Sale & Purchase Not Liable For Tax

2.3 Payment of Tax and Recovery
Section: 42 - Composition of Tax & Notification 1505/CR - 105/Taxation-1

2.4 Set Off, Refund etc.
Section 48 & 49 Set Off, Refund etc. along with rules 52, 53, 54, 55.

Notes :
1. The Syllabus is restricted to study of particular sections, specifically mentioned rules and notifications only.
2. All modules / units include Computational problems / Case study.
3. The Law in force on 1st April immediately preceding the commencement of Academic year will be applicable for ensuing Examinations.

Additional Information

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ISBN-13 978-93-86758-63-7
AUTHOR Ainapure - Ainapure
YEAR 2017
ED Fourth
SUBJECT Indirect Taxes TYBCOM Semester VI