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<h1>Finance Act 1998: Service Tax Imposed on Professional Services Including Architects, Credit Rating, and Real Estate Agents.</h1> The circular outlines the implementation of service tax under the Finance (No. 2) Act, 1998, effective from October 16, 1998, targeting services provided by various professionals including architects, interior decorators, credit rating agencies, market research agencies, management consultants, real estate agents, security agencies, mechanized slaughterhouses, underwriters, and practitioners of accountancy and company secretaryship. It details the definitions, scope, and tax liabilities of these services, clarifies issues regarding subcontracting and services rendered to foreign clients, and specifies procedural requirements for registration, payment, and assessment of service tax. The document also addresses the administrative and appellate mechanisms for service tax collection and compliance.