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CHANGES FOR SERVICE TAX IN FINANCE BILL, 2016

Service Tax - By: - Mr. M. GOVINDARAJAN - Dated:- 1-3-2016 - The Hon ble Finance Minister submitted the budget for the year 2016 - 17 in the Parliament and also introduced Finance Bill, 2016. Chapter V of the Finance Bill, 2016 deals with changes to be brought in service tax provisions. The changes may be by means of omission of certain provisions, substitution of certain provisions and insertions of new provisions. Insertions The Finance Bill, 2016 inserts three new sections namely Section 101, .....

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ction 66B, no service tax shall be levied or collected during the period from 01.07.2012 and ending with 29.01.2014 (both days inclusive) in respect of taxable services provided to an authority or a board or any other body- Set up by an Act of Parliament or a State Legislature; or Established by the Government. With 90% of more participation by way of equity or control to carry out any function entrusted to a municipality under Article 243W of the Constitution, by way of construction, erection, .....

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of the President. Section 102 Section 102(1) provides that no service tax shall be levied or collected during the period commencing from 01.04.2015 and ending with 29.02.2016 (both days inclusive) in respect of taxable services provided to the Government, a local authority, by way of construction, erection, commissioning, installation, completion, filling out, repair, maintenance, renovation or alteration of- A civil structure or any other original works meant predominantly for use other than f .....

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tion 102 (2) provides that refund shall be made of all such service tax which has been collected but which would not have been so collected at all material times. Section 102(3) provides that an application for the claim of refund of service tax shall be made within a period of six months from the date on which the Finance Bill, 2016 receives the assent of the President. Section 103 Section 103(1) provides that no service tax shall be levied or collected during the period commencing from 01.04.2 .....

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at the contract had been entered into before 01.03.2015. Section 103(2) provides that the refund shall be made of all such service tax which has been collected but which would not have been so collected at all material times. Section 103 (3) provides that an application for the claim of refund of service tax shall be made within a period of six months from the date on which the Finance Bill, 2016 receives the assent of the President. Amendment to Section 65B Clause 145 (a) of the bill proposes t .....

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ctivity carried out by a lottery distributor or selling agent on behalf of the State Government, in relation to promotion, marketing, organizing, selling of lottery or facilitating in organizing lottery of any kind, in any other manner, in accordance with the provisions of the Lotteries (Regulation) Act, 1998. Amendment to Section 66D Clause 146(a) of the bill proposes to omit the Section 66D(l) (which deals negative services). By this omission, the services by way of- pre-school education and e .....

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y way of transportation of goods by an aircraft or vessel from a place outside India upto the customs station of clearance in India will come into the service tax net. Amendment to Section 66E Section 66E deals with the declared service which includes in the definition of the term service . Clause 147 of the Bill proposes to insert one more service as declared service which is the assignment by the Government of the right to use the radio-frequency spectrum and subsequent transfers thereof. Amen .....

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n force or as applicable at the time when the taxable service has been provided or agreed to be provided. (2) The time or the point in time with respect to the rate of service tax shall be such as may be prescribed. Explanation: - For the purposes of this section, rate of exchange means the rate of exchange determined in accordance with such rules as may be prescribed. Amendment to Section 73 Section 73 of the Act deals with recovery of service tax not levied or paid or short levied or short pai .....

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applicable to Section 73(2) which provides that where the adjudicating authority/appellate authority do not allow the invoking of extended period, the Central Excise Officer may determine the tax due for 30 months as if the notice was issued for the offences for which limitation of eighteen months applies under sub-section (1). The said limitation period is also applicable to Section 73(3). The proviso to Section 73(3) provides that the Central Excise Officer may determine the amount of short pa .....

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r any part thereof to the account of the Government within the specified period he is to pay interest at such rate not below 10% and not exceeding 36% per annum as is for the time being fixed by the Central Government, by notification in the Official Gazette] for the period] by which such crediting of the tax or any part thereof is delayed. Clause 150 of the bill proposes to insert the proviso therein by which in case of a person who collects any amount as service tax but fails to pay the amount .....

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with respect toa notice issued under Section 73(1) or the proviso to Section 73(1) is concluded in accordance with the provisions of clause (i) of the first proviso to Section 76 or clause o(i) of the second proviso to Section 78, as the case may be, the proceedings pending against any person under this section shall be deemed to have been concluded Amendment to Section 89 Section 89 deals with offences and penalties. Clause 152 of the bill enhances the limit for imprisonment from ₹ 50 la .....

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