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SERVICE TAX ANALYSIS OF AMENDMENTS APPLICABLE WITH EFFECT FROM 01ST APRIL 2015

Service Tax - By: - Chitresh Gupta - Dated:- 28-3-2015 Last Replied Date:- 30-12-1899 - SERVICE TAX: ANALYSIS OF AMENDMENTS APPLICABLE WITH EFFECT FROM 1st APRIL 2015 The Finance Bill, 2015 has proposed lot of changes in Service tax provisions. These changes will be coming into effect on various dates. Based on date of applicability of provisions, the various changes can be categorized as follows: (i) Changes coming into effect immediately w.e.f. the 1st day of March, 2015; (ii) Changes coming i .....

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IONALIZATION OF EXEMPTIONS A. EXEMPTIONS WITHDRAWN 1. Exemption presently available on specified services provided to the Government, a local authority or a governmental authority by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovation, or alteration of - ( vide S. No. 12 of the notification No. 25/12-ST ) shall be limited only to,- (a) a historical monument, archaeological site or remains of national importance, archeological excav .....

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structure meant for use other than for commerce, industry, etc. a structure meant predominantly for use as an educational, clinical, or an art or cultural establishment. a residential complex predominantly meant for self-use or the use of their employees. 2. Exemption to services provided by way of construction, erection, commissioning or installation of original works pertaining to an airport or port is being withdrawn (S. No 14 of the notification No. 25/12-ST). The other exemptions covered .....

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uff by rail, or vessels or road will be limited to food grains including rice and pulses, flour, milk and salt. Transportation of agricultural produce is separately exempt, and this exemption would continue (S. Nos. 20 and 21 of notification No. 25/12-ST). Therefore, the services by way of transportation of foodstuff except milk, salt and food grain (including flour, pulses and rice) would be liable to service tax. 5. Exemptions are being withdrawn (S. No 29 of notification No. 25/12-ST) on the .....

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ng telephone calls from free telephone at airport and hospital where no bill is issued. B. NEW EXEMPTIONS INTRODUCED 1. Any service provided by way of transportation of a patient to and from a clinical establishment by a clinical establishment is exempt from Service Tax. The scope of this exemption is being widened to include all ambulance services. (Amended in the entry at S. No. 2 of notification No. 25/12-ST refers). 2. Life insurance service provided by way of Varishtha Pension Bima Yojna is .....

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, zoo, national park, wild life sanctuary and a tiger reserve is being exempted. These services when provided by the Government or local authority are already covered by the Negative List. (New entry at S. No. 45 of notification No. 25/12-ST). 6. Service provided by way of exhibition of movie by the exhibitor (theatre owner) to the distributor or an association of persons consisting of such exhibitor as one of it s members is being exempted. (New entry at S. No. 46 of notification No. 25/12-ST). .....

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ULES, 2004 Amendment of Rule 4(7) : Earlier, as per rule 4(7), in case of service tax paid by the service receiver full reverse charge mechanism, CENVAT credit was allowed to be availed on making of service tax payment even if value of service is not paid to service provider. Similarly, in case of service tax paid under partial reverse charge mechanism, CENVAT credit was allowed to be availed on making payment of value of service as well as portion of service tax payable by the service receiver. .....

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ed under partial reverse charge mechanism. (Notification under sub-section (2) of section 68 - Reverse Charge - 30/2012 - Dated 20-6-2012 - Service Tax as amended time to time) • Services provided by mutual fund agents, mutual fund distributors and agents of lottery distributor are being brought under reverse charge consequent to withdrawal of the exemption on such services. Accordingly, Service Tax in respect of mutual fund agents and mutual fund distributors services shall be paid by asse .....

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ent is now being prescribed for transport by rail, road and vessel. Service Tax shall be payable on 30% of the value of such services subject to a uniform condition of non-availment of Cenvat Credit on inputs, capital goods and input services. • At present, Service Tax is payable on 40% of the value of air transport of passenger for economy as well as higher classes, e.g. business class. The abatement for classes other than economy is being reduced and service tax would be payable on 60% of .....

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Transport of Passenger by air (Other than economy) 40% 60% • Abatement is being withdrawn from chit fund service. Consequently, Service Tax shall be paid by the chit fund foremen at full consideration received by way of fee, commission or any such amount. They would be entitled to take Cenvat Credit. SERVICE TAX - RATE CHANGES (effective from a date to be notified after the enactment of the Finance Bill, 2015) The rate of Service Tax is being increas .....

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nd service provided by lottery distributor and selling agent the service provider has been allowed to pay service tax at an alternative rate subject to the conditions as prescribed under rule 6 (7), 6(7A), 6(7B) and 6(7C) of the Service Tax Rules, 1994. Consequent to the upward revision in Service Tax rate, the said alternative rates shall also be revised proportionately. Amendments to this effect have been proposed in the Service Tax Rules. The new rates are summarized in the table below: .....

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