Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 March 31 deadline is getting near. How to save income tax with tax loss harvesting?
 45-day MSME payment rule: Impact and details of Section 43B(h) explained
 Small savings schemes that offer tax benefits of up to Rs 1.5 lakh under section 80C
 RE-OPENING OF CORRECTION WINDOW FOR MAY 2024 CA EXAMINATIONS
 Powerful Upgrades, Tally 12+1 months renewal Plan and Connected Services for your growing Business - March 2024
 How innovative solutions can help fix the Sec 43B conundrum for MSMEs
 Income Tax dept asks many individuals to explain high value transactions of FY20-21 as Updated ITR deadline nears
 Release Notes for TallyPrime and TallyPrime Edit Log Release 4.1 | What s New!
 Deadline to file updated ITR FY20-21 ends on March 31: Details on additional tax
 4 tax-planning mistakes to avoid this season
 ITR 2024: Here are 8 ways by which senior citizens can save on taxes this year

Vets may be bitten by service tax
January, 27th 2007

Keeping a pet may just get a tad costlier as you may end up paying more for that visit to the vet. The government is examining a proposal to bring veterinary services for pet animals under the tax umbrella in the forthcoming Budget. Pet lovers may hate it, but the government has bracketed veterinary services along with other new areas that it is looking to bring under the service tax net. However, the proposal to bring livestock under the tax net has not found much favour as it could impact, among others, the farm and dairy sectors.

But if veterinary service were to be taxed, it would attract a 12% levy. However, if your vets annual turnover is less than Rs 4 lakh, he may not need to register himself as a service provider. Veterinary service is among the 44 new services that the Centre has offered to states as a compensation for the phase-out of central sales tax. States, however, have shown their willingness to bring only those politically correct services under the tax net.

Services like health and hospital services are among them. As taxing these services could have political ramifications, states are not keen in this front. As a result, sources said the government may not tax all the 44 services. They said there was a case for taxing veterinary services as it would have no implications on the middle or low-income groups. Veterinary service, they said cost much more than a visit to a doctor and with the growing popularity of exotic breed of pets, veterinary pet practice was booming.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting