06 September 2012

Background Material of Two/Three Days Workshop on Enabling Service Tax Practice

Dear Member,

Sub:  Background Material of Two/Three Days Workshop on Enabling Service Tax Practice

As you are kindly aware, taxation of services has undergone a radical change with effect from July 1, 2012 - the selective system has given way to the comprehensive system. Under new dispensation, all services, other than services specified in the negative list, provided or agreed to be provided in the taxable territory by a person to another would be taxed under section 66B. The additional collection expected from service tax alone this year is estimated at more than Rs. 50,000 crores though the Finance Minister has conservatively estimated it to be above Rs. 18,000 crores.

These developments have opened new professional opportunities and challenges for our members.  To cope up with these emerging challenges in the area of service tax, the Indirect Taxes Committee of the ICAI is organising Two/ Three Days Workshops on "Enabling Service Tax Practice" across the country.  Another important objective of the Workshop is to bring more members in to the practice of indirect taxes so that when Goods and Services Tax is introduced, our members can play lead role and assist the Government in implementing the new tax regime.

The Workshop is designed to cover all important aspects of service tax like definition of 'service' and its taxability, declared service, concept of 'negative list of services', 'exempted service', tax liability under 'reverse charge mechanism' & 'joint charge mechanism', point of taxation, registration, valuation, import & export of service.  The Committee provides a Background Material, covering inter alia the above-mentioned topics, to the participants of the Workshop to facilitate easy understanding of the contents.

Considering the significant amendments made in service tax law, the Committee has updated the Background Material of the Workshop with all the amendments made by the Finance Act, 2012 and notifications/circulars issued till 24th August 2012. Additional chapters on 'Issues in Works Contract and Construction Activities' and 'Landmark Case Laws' have made this booklet a little more comprehensive. Keeping with its objective of disseminating current and updated knowledge amongst the members, the Committee has decided to host the Material on the Institute's website at 

It gives us immense pleasure to inform to you that as on date the said Workshop has been organized at more than 20 locations and more than 1800 members have been trained in the area of service tax. Members desirous of attending the Workshop may contact their Branch for hosting the same. 

With best regards

Indirect Taxes Committee
The Institute of Chartered Accountants of India
ICAI Bhawan
A-29, Sector - 62, NOIDA (U.P.)

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