| Service
Tax is a central tax which has been imposed on the consumers of
selective services and is latest addition to the genus of indirect
taxes like Customs and Central Excise duty. According to the mechanism
adopted for collection, it is to be collected by the C. Excise
Department.
The Service Tax in India was introduced in 1994 by way of Chapter
V to the Finance Act, 1994 and to begin with the services rendered
by Stock-brokers, General Insurance Companies and Telephone connection
providers were brought within the ambit of these provisions. Other
services were added to the fold during subsequent years and as
a results of those additions services of Stock Brokers, Insurance,
Telephone, Pager services, Advertising services, Courier services,
Man power Recruitment Agents, Consulting Engineers, Custom House
Agents, Steamer Agents, Mandap Keepers, Air Travel Agents, Clearing
and Forwarding Agents, Rent a Cab Scheme Operators, Architects
/ Interior Decorators, Practicing Chartered Accountants, Practicing
Cost Accountants and Practicing Company Secretaries, Management
Consultant, Real Estate Agents, Security and Detective Agencies,
Credit Rating Agencies, Market Research Agencies, Under Writers,
Tour Operators, Commercial Training and Coaching Centre, Maintenance
& Repair Service, Banking & Financial Services, Sound
Recording Services, Cargo Handling Service, Business Auxiliary
Service, Franchise Service, Commissioning & Installation Service.
It may be pertinent to concerned persons or organisations to note
that, during the year 1997, the services provided by Outdoor Caterers,
Pandal or Shamiana Contractors and Goods Transport Operators were
taken into the scope of service tax levy but the related entries
from the Service Tax Law were deleted vide Finance Act, 1998.
The services provided by Tour Operators had also been exempted
from the levy of Service Tax till 31st March, 2000. |
