Budget I- Service tAx Proposed Dates

[CA Akash Phophalia]

The budget has introduced several changes in Service Tax laws. These changes aimed at widening the tax base and to pave the path for smooth implementation of GST. The amendments are categorized as under:-

1. Changes coming into effect immediately w.e.f 1^st March 2015
2. Changes coming into effect from the 1^st day of April 2015.
3. The amendments which will get incorporated in the Finance Act 1994 immediately on enactment of the Finance Bill 2015.
4. The changes to be made effective from the date notified by the government.
5. Levy of cess on all or certain taxable services will come into effect from a ate to be notified.

Amendments / Propose dAmendments

(1) With effect from 01.03.2015

Shifting the liability of payment of service tax on aggregator of service where service is provided under the brand name of the aggregator

Amendments in rules 4, 4A and 5 of the Service Tax Rules 1994

Certain amendments in the Cenvat Credit rules

Rescinding notification No 42/2012 - ST

Extending scope of advance rulings to resident firms

(2) With effect from 01.04.2015

Rationalization of certain exemptions under Mega Exemption Notification at entry 12,14,16,20,21 and 29

Certain new exemptions

Omissions in the exemption notification

Changes in abatement and its conditions

Amendment in reverse charge mechanism

Certain amendments in Cenvat Credit Rules

(3) With effect from the enactment of Finance Bill 2015

New definition of government

New explanation to 65B(44)

Insertion of illustration in section 66F

Changes is the definition of consideration

Amendments in sections 73, 76 and 78 of the Finance Act 1994

Insertion of transition provision

Omission of section 80

Amendment in section 86

Amendment in the provisions of Settlement Commission

Omission of rule 6(6A) of the Service Tax Rules

(4) With effect from the notified date

Amendment in Negative List

Certain amendments in Mega Exemption Notification

Insertions in Mega Exemption Notification

Amendments in alternative rates as mentioned in Service Tax Rules

This is just for your reference. It does not constitute our professional advise or recommendation.

CA Akash Phophalia

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