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Budget VIII- Analytical view of notification and their effective date of applicability

Service Tax - By: - CA Akash Phophalia - Dated:- 16-3-2015 - BUDGET - VIII (Notification wise changes) Notification No Changes Effective Date 03/2015 Deletion of Notification No 42/2012 dated 29.06.2012 Rule 2(f) intermediary and Rule (9) 01.03.2015 04/2015 Notification No 31/2012 dated 20.06.2012 Insertion of word port, airport or land custom station instead of port or airp .....

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Service receiver % payable by provider % payable by other than provider Mutual Fund Agent or Distributor Mutual Fund or Asset Management Company Nil 100% Selling or Marketing agent of lottery tickets Lottery Distributor or Selling Agent Nil 100% .....

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ection 73. 01.03.2015 Changes is Service Tax Rates Nature of Service Old Rate New Rate Air Travel Agent 0.6% of the basic fare in case of domestic bookings 1.2% of the basic fare in case of international bookings 0.7% of the basic fare in case of domestic bookings 1.4% of the basic fare in case .....

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,000 and upto ₹ 10,00,000 ₹ 770 and 0.014% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000 and subject to a maximum of ₹ 7000. Distributor or selling agent in organizing a lottery 7000 on every 10 lacs of aggregate face value (Condition of payout more than 80%) 11000 on every 10 lacs of aggregate face value (Condition of payout less than 80%) 8200 on ever .....

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ative list to exemption) New Exemptions Effect from 01.04.2015 Services of ambulance by way of transportation of patients are exempted. (Earlier for clinical establishment, medical practitioners and paramedics only) Life insurance services under Varishtha Pension Bima Yojna Services by operator of Common Effluent Treatment Plant by way of treatment of effluent. Services of pre-conditioning, pre-cooling, ripening, waxing, retail packing, labeling of fruits and vegetable .....

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ntial complex predominantly meant for self use or the use of their employees or other persons specified in the Explanation1 to clause 44 of Section 65B of the said act. Services by way of construction, erection, commissioning, or installation of original works pertaining to an airport or port. Services by an artist by way of performance in folk or classical art forms of (i) music, or (ii) dance, or (iii) theatre, if the consideration charged for such performance is not more than one lakh .....

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for all the three is regarding non-availment of CENVAT credit on inputs, capital goods and input services. Transport of passengers by air- Earlier it was 40%, now for economy class 40% and for others 60% taxable value with the condition of non-availment of CENVAT credit on inputs and capital goods. Abatement in relation to services provided to chit is withdrawn. Thus service tax is required to be paid on the consideration received by way of fee, commission, or the like at full .....

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