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Aam aadmi becomes khaas aadmi
17 March, 2012 Ahmedabad :
Aam aadmi becomes khaas aadmi

“Aam adami” now becomes “khaas adami” as our poor FM had to ultimately depend on him to bail out the government of the fiscal crises. The government plans to fill their coffers from the extra 18000 Crores which they would eventually recover through imposing Service Tax across the board. It is this aam aadmi who ultimately pays service tax ,it being an indirect tax. Not only the tax has been increased to 12 % from the existing 10% but a new taxing system is being proposed. There is paradigm shift in the way services are proposed to be taxed. Taxation will be based on what is popularly known as “Negative List of Services”. In simple words, it means that if an activity meets the characteristics of a “service” it is taxable unless specified in the Negative list, comprising just 17 heads listed in proposed new section 66D. In other word except for these 17 specified services, rest all will be taxed. Now these 17 heads are nothing but an eyewash as majority of them were never in the ambit of tax nor could have been as many of them fall under the state list. Funeral, burial service crematorium or mortuary services; trading of goods; betting and gambling ;agriculture services and so on so forth, The entire negative list is simply a misnomer . Railway budget high voltage drama was witnessed recently. Surprisingly, with the likely-hood of an roll back in the fare hikes, Pranab Mukherjee has implemented service tax on the Railway passenger fares in the First class and AC class. Last year, service tax on renting of immovable property and construction was challenged in the Courts, government’s insecurity resulted in introduction of a new section 66E specially for these two services. Services received from Jammu and Kashmir are now proposed to be taxed under a new reverse mechanism system and the tax burden is on shoulders of the service receiver. In other words, if one takes any services from a service provider based in J&K, the receiver pays the tax. One school of thought is that by doing so, the finance ministry has pulled back the spending power of an Aam aadmi and as a result will control the price rise and inflation, thus a Khaas adami !!!

 

 

See Budget 2012-2013

Courtesy: From the desk of Monish Bhalla, Founder, www.servicetaxonline.com
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