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MAJOR AMENDMENTS IN SERVICE TAX EXEMPTIONS IN 2015 |
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MAJOR AMENDMENTS IN SERVICE TAX EXEMPTIONS IN 2015 |
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Amendments made by Notification No. 6/2015-ST dated 1.3.2015 w.e.f. 1.4.2015 or notified date (01.06.2015) The following changes (new exemptions, withdrawal of existing exemptions or rationalization of exemptions) have been made vide Notification No. 6/2015-ST dated 1.3.2015 w.e.f. 1.4.2015 or notified date. The parawise and entry wise changes are as follows:-
(a) a civil structure or any other original works meant predominantly for use other than for commerce, industry, or any other business or profession; (c) a structure meant predominantly for use as (i) an educational, (ii) a clinical, or (iii) an art or cultural establishment; (f) a residential complex predominantly meant for self-use or the use of their employees or other persons specified in the Explanation 1 to clause 44 of section 65B of the said Act; has been withdrawn.
43. Services by operator of Common Effluent Treatment Plant by way of treatment of effluent; 44. Services by way of pre-conditioning, pre-cooling, ripening, waxing, retail packing, labelling of fruits and vegetables which do not change or alter the essential characteristics of the said fruits or vegetables; 45. Services by way of admission to a museum, national park, wildlife sanctuary, tiger reserve or zoo; 46. Service provided by way of exhibition of movie by an exhibitor to the distributor or an association of persons consisting of the exhibitor as one of its members. 47. Services by way of right to admission to exhibition of cinematographic film, circus, dance, or theatrical performance including drama or ballet; recognised sporting event and award function, concert, pageant, musical performance or any sporting event other than a recognised sporting event, where the consideration for admission is not more than ₹ 500 per person. (w.e.f. 1-6-2015). Amendments made by Notification No. 12/2015-ST dated 30.04.2015 Following exemptions have been provided w.e.f. 30.04.2015 – (a) Insurance schemes/Government schemes (i) Pradhan Mantri Suraksha Bima Yojna (in Entry 26 of Notification No. 12/2015) (ii) Pradhan Mantri Jeevan Jyoti Bima Yojana (in Entry 26A of Notification No. 12/2015) (iii) Pradhan Mantri Jan Dhan Yogana (in Entry 26A of Notification No. 12/2015) (b) Exemption to Services by way of collection of contribution under Atal Pension Yojana (APY). [Entry 26B] Amendment made by Notification No. 20/2015-ST dated 21.10.2015 Following exemptions shall be allowed w.e.f. 21.10.2015 vide Notification No. 20/2015-ST dated 21.10.2015. 29 Services provided by (g) business facilitator or a business correspondent to a banking company with respect to a Basic Savings Bank Deposit Account covered by Pradhan Mantri Jan Dhan Yojana in the banking company’s rural area branch, by way of account opening, cash deposits, cash withdrawals, obtaining e-life certificate, Aadhar seeding; (ga) any person as an intermediary to a business facilitator or a business correspondent with respect to services mentioned in clause (g); (gb) business facilitator or a business correspondent to an insurance company in a rural area.
By: Dr. Sanjiv Agarwal - November 28, 2015
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