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Dec 14, 2012
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Service tax clauses are cumbersome
Service tax would easily qualify as the legislation which has witnessed maximum changes over the last 16 years. What started off as a simple tax on three services has now turned into a cash-cow for the Government with revenues budgeted at Rs 1,24,000 crore in the current fiscal. The negative list introduced in 2012 is expected to be a game-changer for service tax law as it is touted as a precursor to the Goods and Services Tax (GST) – if and when it comes. The Delhi High Court is turning out to be a good place to turn to for consultation on service tax. It turned out a landmark judgement in the case of the Home Solution Retail ruling that base rent from property cannot be subject to service tax, which the Government reversed with its Brahmastra:amending the Finance Act, 1994 to accommodate the levy.
Source -
http://www.thehindubusinessline.com
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