"practising company secretary" means a person who is a member of the Institute of Company Secretaries of India

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'.]