Saturday 30 June 2012

[www.keralites.net] Amendment in Tatkal Scheme

 
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[www.keralites.net] Most services to come under tax net from today

 

All services, except those which are in the negative list, will become expensive from tomorrow, with the implementation of the new service tax regime.
Other than the 38 services that figure in the negative list, all activities would attract 12 per cent tax. The government had earlier decided to implement the negative list from July 1. According to the negative list, services like metered taxis, auto rickshaws, betting, gambling, lottery, entry to amusement parks, transport of goods or passengers and electricity transmission or distribution by discoms have been kept in the negative list.
Other services which will not attract the tax include funeral, burial, mutate services and transport of deceased. Coaching classes and training institutions will come under the net, though the tax will not be levied on school, university education and approved vocational courses.
However, confusion prevails with regard to the imposition of service tax on rail freight and passenger fares from tomorrow.
Railway Minister Mukul Roy has said railways will not introduce service tax on freight and fare from July 1 and has written to Prime Minister Manmohan Singh, who is now looking after the finance portfolio, in this regard.
The government has widened the definition of 'services' to bring in more activities under the tax net. Till now, 119 services that come under 'positive list' are subject to the levy. The new approach to taxation of services is intended to take the country and the economy a step closer towards the introduction of Goods and Service Tax.
Besides, services provided to the government, local authorities or a government authority for the repair and maintenance of an aircraft would also come in the negative list. Also, services provided by advocates to other advocates and business entities up to a turnover of Rs 10 lakh in the preceding financial year is exempt from service tax.
Services provided by way of public convenience such as provision of facilities of bathroom, washroom, urinals or toilets would be included in the negative list.
The other services, which would be exempted from tax, include auxiliary educational services and renting of immovable property by educational institutions in respect of education exempt from service tax. Besides, services relating to works contract to a scheme under JNNURM or Rajiv Awas Yojana would also come under the negative list. The finance ministry has set a target of Rs 1.24 lakh crore for service tax collection in the current fiscal, higher than Rs 97,000 crore collected in 2011-12.
Source : BS
Best Regards
Prakash Nair
 Note:  Still awaiting Government notification/clarifications regarding charging of Service Tax on fees paid by NRIs while remitting money from abroad to their NRE/NRO accounts with banks in India.  Most probably the service tax will be imposed on the fees charged by banks in India while crediting the remittance received from abroad through third party banks.   Some of the banks charges Rs. 100- 200 as their service charges. The service tax applicable will be 12.36% on Rs. 100- 200 per transactions.  But still more clarity is required on the mode operations.

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[www.keralites.net] Good Morning

 

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Fun & Info @ Keralites.net

Waking up, looking at you
and knowing the sun is high in the blue-
I realize everything is beautiful.

Feeling you brush across my cheek
brings my morning to its peak-
I realize everything is beautiful.

Sipping my coffee, I look into your eyes
Ones full of life, joy, love and surprise-
I realize everything is beautiful.

Hearing the words slip from your lips
those same which greeted me with a morning kiss-
I realize everything is beautiful.

Love, you don't know what you do
But every move... makes me more in love with you.
So, Good Morning, Beautiful. You are My Everything.


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Fun & Info @ Keralites.net

Fun & Info @ Keralites.net

Fun & Info @ Keralites.net

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Fun & Info @ Keralites.net

As a friend I do wish you the best of life's blessings
And freedom from sickness and pain.
May your prayers and oblations, as blooms of carnations,
Flourish in sunshine and rain.
May the blessings of heaven be showered upon you
With favor from God.
May you harvest with pleasure the fruits of your labor
To share with whoever you can.
May the dew in the morning refresh and delight you,
And your days be filled with great peace.
May your nights without number be filled with sweet slumber;
Your dreams filled with hope ne'er cease.
May your mate and your children bequeathed and beloved
Be cherished as jewels set in gold.
May your joy blend with laughter, both now and hereafter,
As the days of your life unfold.

Prince


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[www.keralites.net] "I May Never See Tomorrow"

 



I May  Never  See  Tomorrow
 
I may never see tomorrow  , there's  no guarantee.
And   things  that happened  yesterday belong to history.
I can't predict the future, I  can't change the past.
 
I  have  just  the present  memories to treat as my last.
I must use this moment wisely, for soon it will pass away,
And be lost forever as a part  of yesterday.
 
I  must  exercise  compassion,
Be a  friend  unto  the friendless ,make their life complete,
 
The  unkind   things  I do today  may  never be undone,
And friendship that I fail to win, may never more be won.
I may not have another chance on bended knees to pray,
And I  thank God with a humble  heart for giving me this day!
 
Nandakumar

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