TMI BlogNo Service Tax required to be paid on Services provided by an Authorised Person or Sub-Brokers to Member of Commodity Exchange up to 30th June, 2012X X X X Extracts X X X X X X X X Extracts X X X X ..... No Service Tax required to be paid on Services provided by an Authorised Person or Sub-Brokers to Member of Commodity Exchange up to 30th June, 2012 - By: - Bimal jain - Service Tax - Dated:- 7-2-2014 - - Dear Professional Colleague, No Service Tax required to be paid on Services provided by an Authorised Person or Sub-Brokers to Member of Commodity Exchange up to 30 th June, 2012 The C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... entral Government vide Notification 03/2014-ST dated February 3, 2014 has provided that no Service Tax is required to be paid on services provided by an authorised person or sub-brokers to the member of a Commodity Exchange, in relation to a forward contract, on which Service Tax was not being levied during the period commencing from the 10 th day of September 2004 and ending with the 30 th da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of June, 2012 in accordance with the prevalent practice. In exercise of the powers conferred by section 11C of the Central Excise Act, 1944 (1 of 1944) , read with section 83 of the Finance Act, 1994 ( the Finance Act ) the Central Government has directed that the service tax payable on the services provided by an authorised person or sub-broker to the member of a recognised associati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on or a registered association, in relation to a forward contract, shall not be required to be paid in respect of such taxable service on which the service tax was not being levied during the period commencing from the 10 th day of September 2004 and ending with the 30 th day of June 2012 in accordance with the prevalent practice. The Central Government is satisfied that a practice was general ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly prevalent regarding levy of service tax (including non-levy thereof), under section 66 of the Finance Act , on services provided by an authorised person or sub-broker to the member of a recognised association or a registered association, in relation to a forward contract, and that such services were liable to service tax under the Finance Act , which was not being levied according to the sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... id practice during the period commencing from the 10 th day of September 2004 and ending with the 30 th day of June 2012. Please find the link to download the Notification: Notification 03/2014-ST dated February 3, 2014 Hope the information will assist you in your Professional endeavours. In case of any query/ information, please do not hesitate to write back to us. Thanks Bes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t Regards Bimal Jain FCA, FCS, LLB, B.Com (Hons) F-30/31/32, Pankaj Grand Plaza 1st Floor, Mayur Vihar, Phase I, Delhi 110091 India Desktel: +91-11-22757595; Mobile:+91 9810604563 Email: bimaljain at the rate of hotmail.com Disclaimer: The contents of this document are solely for informational purpose. It does not constitute professional advice or recommendation of fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm. Neither the authors nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this document nor for any actions taken in reliance thereon. Readers are advised to consult the professional for understanding applicability of this newsletter in the respective scenarios. While due care has been taken in preparing this document, the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... existence of mistakes and omissions herein is not ruled out. No part of this document should be distributed or copied (except for personal, non-commercial use) without our written permission. - - 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
|
