Service Tax Counsellor (STC)

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Tax on services is an indirect tax and though being 20 years old is still a relatively a new concept in India. Government of India had introduced the levy of Service Tax, i.e., tax on the services for the first time in 1994, borrowing the concept from foreign countries. The basic purpose for this levy has been to increase revenue and look upon Service Tax as an additional source of collecting revenue to meet expenditure. It is well-known and an established fact that the services constitute a larger proportion of the consumption of the rich rather than of the poor because the demand for services is income-elastic.

 

The service sector contributes about 67 per cent to India's GDP as per recent RBI report. Service Tax has been imposed as an indirect tax, which is demanded from a person on the expectation and intention that such person shall indemnify at the expense of other person who is consuming such service. The indirect tax is levied on goods and services and not on income or profits, thus, carrying the tax to the point of consumption.

ASCO publishes a weekly e-newsletter on Service Tax, 'STC' covering the entire spectrum of Service Tax in phases, the notifications , circulars and developments happening in the political arena concerning Service Tax. It also consists of summary of various recent judicial pronouncements.  The objective of STC is to educate, empower, guide and update all the stakeholders with the knowledge of Service Tax. STC is prepaid by a team of professionals in ASCO.

 

For subscription, send a request at ascostc@gmail.com

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ASCO is headquartered at Jaipur (India) with fully functional branch office at Delhi – NCR. Our geographical reach includes whole of India and we have associates all over India.

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Jaipur-302001, Rajasthan, India

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