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Taxability of newly made ‘taxable services’

Service Tax - By: - Bimal jain - Dated:- 1-4-2015 - Taxability of newly made taxable services The Finance Bill, 2015 vide Clause 107 has proposed certain amendments in the Negative List of services given under Section 66D of the Finance Act, 1994 ( t .....

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later or invoices pertaining to services are raised later. Levy and Collection of Service tax under the Finance Act In any taxing statute, the statutory provision containing the charging Section is of foremost importance. It is well settled law that .....

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ch levy Service tax on taxable services. We are reproducing herewith Section 66B of the Finance Act for the ease of convenience: 66B. Charge of service tax on and after Finance Act, 2012. There shall be levied a tax (hereinafter referred to as the se .....

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be prescribed. The literal interpretation of the charging Section 66B of the Finance Act means that the levy of Service tax is on those service other than the one specified in the Negative List , provided or agreed to be provided . However, the coll .....

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vice Companies Vs. Union of India [2010 (10) TMI 4 - SUPREME COURT OF INDIA] specifically observed that the taxable event under the Service tax law is the rendition of service. Now, in view of the above discussions, the levy of Service tax is on the .....

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ction 66B of the Finance Act, no Service tax may be levied on the same irrespective of the date of its payment or raising of invoice. However, in this regard, Rule 5 of the POT Rules governing Point of taxation in case of new services provides contra .....

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invoice before such service became taxable; Our Comments: As per this Rule, No Service taxis payable even if services are rendered after such service becomes taxable only when the invoice has been issued and the payment received against such invoice .....

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