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S.C.T/VAT/TIN/SERVICE TAX


C.S.T SERVICE

Indirect taxes contribute the maximum revenue for the Union and the State Governments. Union Government’s revenue from the Indirect Taxes are mainly from CENVAT (Central Excise), SERVICES TAX & Customs duties. State Government’s revenue from the Indirect Taxes are mainly from VAT (Sales Tax within the State), CST, Excise on alcoholic beverages, Entry tax/Octroi, luxury tax, entertainment tax etc.

The introduction of VAT by the states and Services Tax by the Central Government has been of relatively recent origin that the interpretation and procedural issues are still creating problem areas and uncertainties. The long standing proposal to consolidate CENVAT, VAT AND SERVICES TAX under the regime called GST is still being worked out. The basic problem area is one of State Revenue vs Central Revenue and connected Constitutional amendments involved.

This programme aims at discussing in detail, the current prevalent issues and also what is yet to come and how to prepare for the switchover with least possible constraints. The subjects will be dealt from the very fundamentals to intricate issues through topic wise exposition, group discussions, caselets, Self Instruction Exercises and query clarifications by renowned academicians, practicing professionals and specialists.

SERVICE TAX

Service Tax is a form of indirect tax imposed only on services provided. From the point of view of a layman, providing services means assistance in any work, taking up of any work on behalf of others, any professional assignment or rendering intangible benefits to others.

VAT (Value Added Tax) is a form of indirect tax imposed only on goods sold within a particular state, which essentially means that the buyer and the seller needs to be in the same state. Only when tangible goods and products are sold, VAT can be imposed.

CST (Central Sales Tax) ) is a form of indirect tax imposed only on goods sold from one state to another state, which particularly takes into account that the buyer and the seller needs to be in two different states. ... read more on yourstory.com

TIN&VAT SERVICE

The registration number allotted to the dealers is popularly known as TIN i.e. Taxpayer Identification Number. This is a eleven digit number to be quoted in all VAT transactions and correspondence

Service Tax is a form of indirect tax imposed only on services provided. From the point of view of a layman, providing services means assistance in any work, taking up of any work on behalf of others, any professional assignment or rendering intangible benefits to others.

VAT (Value Added Tax) is a form of indirect tax imposed only on goods sold within a particular state, which essentially means that the buyer and the seller needs to be in the same state. Only when tangible goods and products are sold, VAT can be imposed.

CST (Central Sales Tax) ) is a form of indirect tax imposed only on goods sold from one state to another state, which particularly takes into account that the buyer and the seller needs to be in two different states. ... read more on yourstory.com



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