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Indian Service Tax

Company Secretary

Effective Date 16/10/1998

Authority Notification No. 53/98,ST, dt. 7/10/1998 (for full text of Notification see under'Architect').

Rate of Service Tax 8% from 14/5/2003 (5% upto 13/5/2003). 10% from 10/9/2004-Cess 2% of 10% = 0.2. Total ST = 10.2%.

Definition

"practising company secretary" means a person who is a member of the Institute of Company Secretaries of India and is holding a certificate of practice granted under the provisions of the Company Secretaries Act, 1980 (56 of 1980) and includes any concern engaged in rendering services in the field of company secretaryship; [Section 65(85)]

Taxable service
Company Secretary providing service to a client in his professional capacity, in any manner.

Value of taxable service
The gross amount charged by such Secretary from the client for services rendered in professional capacity in any manner.

Exemptions

See Chapter on "General Exemptions"
Specific exemptions
Employees
Services relating to manpower recruitment

Person liable to pay: Practising Company Secretary.

Head of Account

			SI. Code	SCCD
Minor-head	004400126	Company Secretary Services	00440099
Sub-head	00440012601	Tax Collection	00440100	117
Sub-head	00440012602	Other Receipts	00440101	114
Sub-head	00440012603	Deduct Refunds	00440102	115

Questions & Answers

Q. Who is practicing Company Secretary?

Ans. "practicing Company Secretary" is a person who is a member of the Institute of Company Secretaries of India and is holding a certificate of practice granted under the provisions of the Company Secretaries Act, 1980 and includes any concern engaged in rendering services in the field of company secretary ship.

Q. What is the taxable service in case of practicing Company Secretary?

Ans. Taxable service means any service provided to a client, by a practicing company secretary in his professional capacity, in any manner.

Q. What is the value of the taxable service in case of practicing Company Secretary?

Ans. Value of the taxable service in relation to the service provided by a practicing company secretary to a client, is the gross amount charged by such secretary from the client for services rendered in professional capacity in any manner.

[Source CBEC Website]

Main text of Departmental Circular/TN

[TN No. 116/98-ST, Dated 15/10/1998 of Hyderabad Commissionerate]

[For full text of the above Trade Notice see under 'Chartered Accountant'.]