TIOL-DDT 181 · the untouched capture
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<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b><font color="#663399" size="3">TIOL-DDT
181</font><br>
17 08 2005<br>
Wednesday</b></font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>Input Service Distributor – how to get registered?</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">A
netizen asked us in a mail yesterday,<br>
<br>
“As per service tax notification no 27 dt 7.6.05 input service distributor
is also required to get himself registered. Can you please let me know the prescribed
form to be used for registration of input service distributor?”<br>
<br>
DDT will only be too happy to answer such a question, but unfortunately, we
are helpless. We don’t know the answer. Nor does the CBEC!. <br>
<br>
As per Rule 3 of the Service tax (Registration of Special Category of Persons)
Rules, 2005, the input service distributor is required to apply for registration
within thirty days of starting business or 16th June 2005, whichever is later,
in a form specified by the Board by notification. <br>
<br>
3. Registration. - (1) The input service distributor shall make an application
to the jurisdictional Superintendent of Central Excise in such form as may be
specified, by notification, by the Board, for registration within a period of
thirty days of the commencement of business or the 16th day of June, 2005, whichever
is later. <br>
<br>
The Board simply forgot to issue this notification and so there is no form in
which one should apply for registration. All input service distributors are
offenders, because the Board has not so far prescribed the form. You simply
cannot apply for registration, because you are required to apply in the form
and there is no form. Strange are the ways of the Board! We hope to bring you
the form soon – Board and God willing.</font></p>
<p align="center"><font color="#003333" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>Government notifies the COST OF INFLATION INDEX FOR 2005 -06</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
As per Section 48 of the Income Tax Act, for calculating capital gains, indexed
cost of acquisition is to be deducted from the sale consideration to arrive
at the taxable gains. And the Government is to notify a cost inflation index
(CII). The government has now notified 497 as the cost inflation index for 2005-06.
<br>
<br>
Want to know the indices for the previous years? Here they are.</font><b> </b></p>
<table border=1 align="center" cellpadding=0 cellspacing=3>
<tr >
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Sr.No</b></font></p></td>
<td width=77 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Financial
Year</b></font></p></td>
<td width=54 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>CII</b></font></p></td>
<td width=40 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Sr.No</b></font></p></td>
<td width=80 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Financial
Year</b></font></p></td>
<td width=60 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>CII</b></font></p></td>
<td width=36 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Sr.No</b></font></p></td>
<td width=90 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Financial
Year</b></font></p></td>
<td width=54 valign=top > <p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>CII</b></font></p>
<p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b> </b></font></p>
<p class=MsoNormal style='text-align:justify;mso-yfti-cnfc:1'> </p></td>
</tr>
<tr style='mso-yfti-irow:0'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1981-82</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">100</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">11</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1991-92</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">199</font></p></td>
<td width=36 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">21</font></p></td>
<td width=90 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2001-02</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">426</font></p></td>
</tr>
<tr style='mso-yfti-irow:1'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1982-83</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">109</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">12</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1992-93</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">223</font></p></td>
<td width=36 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">22</font></p></td>
<td width=90 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2002-03</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">447</font></p></td>
</tr>
<tr style='mso-yfti-irow:2'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">3</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1983-84</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">116</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">13</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1993-94</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">244</font></p></td>
<td width=36 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">23</font></p></td>
<td width=90 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2003-04</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">463</font></p></td>
</tr>
<tr style='mso-yfti-irow:3'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">4</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1984-85</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">125</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">14</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1994-95</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">259</font></p></td>
<td width=36 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">24</font></p></td>
<td width=90 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2004-05</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">480</font></p></td>
</tr>
<tr style='mso-yfti-irow:4'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">5</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1985-86</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">133</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">15</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1995-96</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">281</font></p></td>
<td width=36 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>25</b></font></p></td>
<td width=90 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>2005-
06</b></font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>497</b></font></p></td>
</tr>
<tr style='mso-yfti-irow:5'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">6</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1986-87</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">140</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">16</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1996-97</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">305</font></p></td>
<td width=36 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=90 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=54 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
</tr>
<tr style='mso-yfti-irow:6'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">7</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1987-88</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">150</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">17</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1997-98</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">331</font></p></td>
<td width=36 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=90 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=54 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
</tr>
<tr style='mso-yfti-irow:7'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">8</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1988-89</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">161</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">18</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1998-99</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">351</font></p></td>
<td width=36 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=90 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=54 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
</tr>
<tr style='mso-yfti-irow:8'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">9</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1989-90</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">172</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">19</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1999-00</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">389</font></p></td>
<td width=36 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=90 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=54 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
</tr>
<tr style='mso-yfti-irow:9;mso-yfti-lastrow:yes'>
<td width=43 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">10</font></p></td>
<td width=77 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">1990-91</font></p></td>
<td width=54 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">182</font></p></td>
<td width=40 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">20</font></p></td>
<td width=80 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">2000-01</font></p></td>
<td width=60 valign=top > <p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">406</font></p></td>
<td width=36 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=90 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
<td width=54 valign=top > <p align="justify"><font face="Verdana, Arial, Helvetica, sans-serif"><font size="2"></font></font></p></td>
</tr>
</table>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif"><a href="http://www.taxindiaonline.com/RC2/subCatDesc.php3?subCatDisp_Id=35&filename=notification/cbdt/2005/it05not189.htm">Income
Tax NOTIFICATION NO. 189/2005, Dated: August 12, 2005</a></font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>Rationalise taxes for petro products – Committee tells government</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
The standing committee on petroleum and natural gas, headed by former AP Chief
Minister N. Janardan Reddy in its report on the pricing of petroleum products
, has proposed that excise duties on petroleum products should be so structured
as to ensure that the interests of the consumer are not compromised. Petroleum
products in our country are heavily taxed. In Delhi, for instance, of the retail
price of petrol, 57% is the tax component. In case of diesel, the tax component
is 35%. Panel says the government should try to rationalise tax structure for
commonly used fuels. The committee noted that customs, excise and state level
duties are about 132% of the basic price of the products in the country. The
shares of taxes in the selling price of petrol in Sri Lanka, Thailand and Pakistan
are 37%, 24% and 30% respectively.<br>
<br>
Meanwhile IOCL the country's largest oil firm has sought a steep hike of Rs
4.54 per litre in diesel and Rs 5.29 per litre in petrol prices in step with
the unprecedented rise in global crude oil prices. IOCL has also sought Rs 11.25
per litre increase in kerosene prices and a massive Rs 92 hike in price of LPG
cylinder. The company, which posted its first ever net loss of Rs 54.2 crore
during the April-June quarter this fiscal, has written to the Petroleum Ministry
seeking the required hike.</font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif">
<b>FBT collections over 500 Crores in Q1</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
The Government has found a new avenue for revenue. An amount of Rs.583 crore
has been collected as Fringe Benefit Tax and an amount of Rs.20 crore has been
collected as Banking Cash Transaction Tax for the first quarter of the current
financial year.<br>
<br>
Banking Cash Transaction Tax came into effect on 1st of June, 2005 and so the
collections of the first quarter actually represent the collections of only
one month. </font></p>
<p align="center"><font color="#006633" size="2" face="Verdana, Arial, Helvetica, sans-serif"><b>Totally
sick companies will have to be wound up – FM</b></font></p>
<p align="justify"><font size="2" face="Verdana, Arial, Helvetica, sans-serif">
The Finance Minister told Parliament yesterday that the government cannot go
on paying salaries of workers of sick public sector companies; companies which
cannot be revived will have to be wound up. What about some sick departments
of the government? <br>
<br>
<font color="#FF6666"><b>Until tomorrow with more DDT<br>
<br>
Have a nice day. <br>
<br>
Mail your comments to</b></font> <a href="vijaywrite@taxindiaonline.com">vijaywrite@taxindiaonline.com</a></font></p>
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