TMI BlogBudget 2012-2013 - Amendments in Service TaxX X X X Extracts X X X X X X X X Extracts X X X X ..... Budget 2012-2013 - Amendments in Service Tax - By: - C.A. Surender Gupta - Service Tax - Dated:- 19-3-2012 - - Rate of Service Tax / Exemption from Service Tax (w.e.f. 17-3-2012 or w.e.f. 1-4-2012) (Notifications as amended available on www.taxmanagementindia.com ) Sr. No. Particulars Old Provisions New Provisions Effective Date 1. Commo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n facility set-up for treatment and recycling of effluents and solid waste with financial assistance from the central or state government. ST ntf. 1/2012 amends ntf 42/2011 Only dying unit s club or association were eligible All club or association are eligible 17-3-2012 2. Effective Rate of Service Tax ST nft. 2/2012 rescinds nft. 8/2009 10% ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 12% 1-4-2012 3. Exemption upto Rs. 10 Lacs in case small service provider amends the term Aggregate value instead of aggregate value not exceeding ten lakh rupees Nft. 5/2012 amends nft. 6/2005 Changes corresponding to POT Rules, 2011 1-4-2012 4. Exemption in relation to air passenger transport Nft. 6/2012 supersedes nft. 26/2012 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Economy class within India maximum Rs. 150 Outgoing international maximum Rs. 750 All Class Exemption 60% Levy of ST on 40% 1-4-2012 5. Rail Transport Notification no. 7/2012 , 8/2012 9/2012 Exemption extended upto July 1, 2012 - 6. Rate of ST on works contract composition scheme 4% 4.8% 1-4-2012 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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