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Service Tax is a tax levied on service providers in India. All service providers in India, except those in the state of Jammu and Kashmir, are required to pay Service Tax. The objective behind levying service tax is to reduce the degree of intensity of taxation on manufacturing and trade without forcing the government to compromise on the revenue needs. On February 24, 2009 in order to give relief to the industry reeling under the impact of economic recession, the rate of Service Tax was reduced from 12 per cent to 10 per cent. Procedure to get refund of service tax on purchase of your apartment

Sensex slips 340 pts on global woes; Q2 nos lift Infosys 7%
Sensex Down: 339 pt.
Nifty Down: 100 pt.

1. Failed Circuit Filter SEBI Pulls NSE
Sebi diredted nse to be carful and cautions in its dealings in the securities market and comply with all the legal requirements that govern its functions as a stock exchange. on october 5, 2012, a dealer at Emkay Global Finance has erroneously put in an order to sell a niftybasket consisting each of the 50 index constituents worth rs 950 crore, within a few seconds of the order being put into the system, nifty had crashed 16% before tradeing was stopped by the exchange.

2. Infosys posts 28% Q2 net profit
Infosys yet again have done better in its second quarter and cheered investors by announcing bonus shares. Murthy wants to avoid conflicts and maintain corporate governance standards at the firm he co-founded 33 years ago.

3.Vodafone wins 3,200crore tax case
Bombay high court ruled in its favour in the transfer pricing case relating to undervaluation of share capital issued by vodafone india Services Private Limited(Vodafone India) to its Mauritius parent.

4. Only limited Sahara investers claim refund from Sebi
The low demand will bolester sahara's argument before courts that it had repaid most of the investers who had come forward app. 4,600 to claim investments they had made in two groups cos's bonds.

Trade4target : stock to buy

Shreyas Shipping & Logistics Ltd
CMP:69rs
Target:130rs
Duration:6-10 months
Percentage return:85%

Shreyas Shipping & Logistics Ltd (SSLL) is a dominant multimodal container logistics operator using land-sea-land route. Their claim is they are No.1 Coastal Operator in India with 51% market share, in handling domestic coastal cargo. It is also the India's largest container feeder vessel owning and operating company & first co to li

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