Budget 2011 - Service Tax - Exemptions:

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..... Budget 2011 - Service Tax - Exemptions:
News and Press Release
Dated:- 28-2-2011

12.1 Notification 26/2010-ST dated 22-6-2010 is being amended by Notification 4/2011- ST and the service tax applicable in respect of „Transport of passengers by air service" is being revised as follows: (a) Domestic (economy) : From Rs.100 to Rs.150 (b) International (economy) : From Rs.500 t .....

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..... o Rs.750 (c) Domestic (other than economy) : Standard rate of 10% 12.2 Exemption is being given to services rendered to an exhibitor participating in an exhibition held outside India (Notification No. 5/ST-2011). 12.3 Exemption from service tax is being provided to „Works contract service‟ when rendered for the construction of residential complexes or completion and finishing ser .....

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..... vices of a new complex under Jawaharlal Nehru Urban Renewable Mission (JNURM) and "Rajiv Awaas Yojana" (Notifications No. 6/ST-2011). 12.4 Exemption has been given to the taxable service of general insurance when provided under "Rashtriya Swashya Bima Yojna" (Notifications No. 7/ST-2011). 12.5 Exemption from service tax is being provided to works contract service rendered within a port, or oth .....

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..... er port or airport in specified areas (Notifications No. 10&11/ST-2011). 12.6 An exemption of 25% from the taxable value is being provided in respect of services rendered in relation to "transport of coastal goods" and goods transported through "national waterways" or "inland water" (Notification No.16/ST-2011). 12.7 Exemptions with retrospective effect have been given by the Finance Bill: ( .....

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..... a) To an association or chamber representing commerce or industry in respect of membership fee under the „Club or Association Service‟ for the period from 16.06.2005 to 31.03.2008; and (b) To inter-state or intra-state transportation of passengers, in a vehicle bearing contract carriage and tourist vehicle permit for the period from 01.04.2000 to 06.07.2009 12.8 These changes will .....

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..... come into effect on the dates mentioned in the respective notifications or when the bill is enacted and notified, as the case may be.
News - Press release - PIB .....

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