Table of Contents
What are the business auxiliary services?
(vii) a service incidental or auxiliary to any activity specified in sub-clauses (i) to (vi), such as billing, issue or collection or recovery of cheques, payments, maintenance of accounts and remittance, inventory management, evaluation or development of prospective customer or vendor, public relation services.
What is not in valued in the auxiliary of business?
Answer: activities which are meant for assisting trade are called auxiliaries to trade. Activities which are Auxiliary to trade : warehousing, insurance, transportation, banking, advertising etc. Thus, mining is not an activity for auxiliaries to trade.
What services are exempt from service tax?
100\% EXEMPTION AS PER NOTIFICATION NO. 25/2012- SERVICE TAX DATED 20.06. 2012
| S. No | Service Provider |
|---|---|
| 2 | 1.Clinical Establishment i.e. Hospital, Nursing Home, Clinic, Sanatorium, testing lab etc. 2.Medical practitioner i.e. Doctor.3.Paramedics i.e. Nursing Staff. |
| 2A | Core blood bank. |
| 2B | Operator. |
| 3 | Veterinary clinic. |
What are the services on which service tax is charged?
It is charged to the individual service providers on cash basis, and to companies on accrual basis. This tax is payable only when the value of services provided in a financial year is more than Rs 10 lakh.
What is the SAC code for business auxiliary services?
SUPPORT SERVICES – GST RATES & SAC CODE 9985.
Which of the following is not an auxiliary to trade?
Activities which are Auxiliary to trade : warehousing, insurance, transportation, banking, advertising etc. But, mining is NOT a support activity for trade. Thus, mining is not an activity for auxiliaries to trade.
Which of the following Cannot be classified as an auxiliary to trade?
mining cannot be classified as an auxiliary to trade.
What is negative list of supply?
On items mentioned in section 9(1) and section 9(2) of the CGST Act, 2017 on which currently GST is not leviable are alcoholic liquor for human consumption, petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel.
Are business services taxable?
Unlike many other states, California does not tax services unless they are an integral part of a taxable transfer of property.
Is HSN and SAC code same?
The basic difference between the HSN and SAC code is that HSN is used to identify the Goods and SAC codes are used to identify the services. Another contrast between the two is the number of digits present in the code, for instance, HSN number has 8 Digit codes while SAC number has 6 digit codes.
What is negative list under service tax?
Negative List of Service Tax: Under Section 66D of the Finance Act 1994, a negative list of services have been outlined, which are deemed to be exempt from service tax. Any service provided that does not come under the purview of this list is liable to be levied with service tax.
What is meant by business auxiliary service?
“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
Are distributors liable to service tax under business auxiliary service?
Services provided by such distributors are in the nature of commission agent and are, thus, liable to service tax under business auxiliary service [section 65 (105) (zzb)]. Budget 2008-09 change: 1. Services provided in relation to promotion or marketing of service provided by the client is leviable to service tax under business auxiliary service.
What is a taxable service?
“Taxable Service” means any service provided or to be provided to a client by any person in relation to business auxiliary service. 1\% of the service tax payable. ( Rate of tax is effective from 24.02.2009.)
When is a taxable service classifiable under two or more sub-clauses of clause (105)?
(2) When for any reason, a taxable service is prima facie, classifiable under two or more sub-clauses of clause (105) of section 65, classification shall be effected as follows :- (a) the sub-clause which provides the most specific description shall be preferred to sub-clauses providing a more general description;