"Service tax on on-going works contracts entered into prior to 01.06.2007” plus 2 more

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• Service tax on on-going works contracts entered into prior to 01.06.2007
• Medical insurance policies and cashless facilities
• DTC Bill is likely to be introduced in parliament on August,30,2010

Service tax on on-going works contracts entered into prior to 01.06.2007 Posted: 25 Aug 2010 05:58 PM PDT It has been brought to the notice of the Board that the following confusions/disputes prevail with respect to long term works contracts which were entered into prior to 01.06.2007 (when the taxable service, namely, Works contract came into effect) and were continued beyond that date: (i) While prior to the said date services like Construction; Erection, commissioning or installation; Repair services were classifiable under respective taxable services even if they were in the... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Medical insurance policies and cashless facilities Posted: 25 Aug 2010 05:55 PM PDT Medical insurance policies offered by different insurers to policyholders are contracts of reimbursement. However, several policies under these contracts offer a cashless facility as a facility of convenience in their Preferred Provider Network (PPN) of hospitals. This PPN is dynamic and subject to change from time to time. With effect from July 1, 2010, the four public sector general insurers have withdrawn the cashless facility to certain hospitals that were previously in the PPN at Mumbai,... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

DTC Bill is likely to be introduced in parliament on August,30,2010 Posted: 25 Aug 2010 05:54 PM PDT The Cabinet is o take up the expected to take up the Direct Tax Code Bill on Thursday amid indications that it has considerably rejigged existing tax slabs.The Bill is then likely to be introduced in Parliament early next week. The Union Cabinet is expected to the take up the Direct Tax Code (DTC) Bill on Thursday amid indications that it would be introduced in the Parliament early next week.DTC Bill, once legislated, will replace the archaic Income Tax Act by rationalising tax slabs for... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

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