Service tax for lawyers

Service tax for Lawyers A.VALLI Accountant Altacit Global Email: info@altacit.com Website: www.altacit.com

What is Service Tax? ,[object Object]

Taxable services,[object Object]

Responsible for payment of Service Tax to the Government

Sec.68 (1) of the Service Tax Act.,[object Object]

Insurance Auxiliary Service by an Insurance Agent ,[object Object]

Mutual Fund Distributors in relation to distribution of Mutual Fund ,[object Object]

They also come under service providers.

They also liable to pay service Tax

Amendment of Service Tax ,[object Object]

Budget extended service tax on advice, consultancy or technical assistance provided in the field of law.,[object Object],[object Object]

The legal consultancy market was estimated between Rs. 400 crores to Rs. 500 crores while amending the service Tax

Imposition of service tax would bring in about Rs 50 crore Revenue to the government.,[object Object]

Service tax is not applicable for Individual lawyers and sole proprietorship.

Sole proprietorships will not come within the purview of the service tax as per the amended service tax Act.,[object Object]

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