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BUDGETARY NOTIFICATIONS SERVICE TAX

Service Tax - By: - Mr.M. GOVINDARAJAN - Dated:- 18-3-2016 Last Replied Date:- 21-3-2016 - Notification No. 8/2016-ST, dated 01.03.2016 This Notification seeks to make amendments in the Notification No. 26/2012-ST, dated 20.06.2012 which gives abatements to certain services subject to conditions prescribed given in the Table. Transport by Rail Sl. No. 2 of the Table gives abatement 30% to the Transport of goods by rail subject to the condition that CENVAT credit on inputs and capital goods, use .....

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(ii) inserts a new Sl. No. 2A below to Sl. No. 2. The new Sl. No. 2A gives 40% abatement to Transport of goods in containers by rail by any person other than Indian Railways subject to the condition that CENVAT credit on inputs and capital goods, used for providing the taxable service, has not been taken under the provisions of the CENVAT Credit Rules, 2004. Transport of passengers Sl. No. 3 of the table gives abatement 30% to transport of passengers, with or without accompanied belongings by r .....

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ervice, has not been taken by the service provider under the provisions of the CENVAT Credit Rules, 2004. Clause 1(a)(iv) substitute the name of service in sl.No. 7 - Services of goods transport agency in relation to transportation of goods other than used household goods . Clause 1(a)(v) insert a new Sl.No. 7A after Sl. No. 7 which gives 40% abatement to the services of goods transport agency in relation to transportation of used household goods with the condition that CENVAT credit on inputs, .....

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redit Rules, 2004. Transport of passengers Clause 1(a)(vi) inserts the entry (c) in Sl. No. 9A after item (b) which is a stage carriage . Transport of goods in a vessel Clause 1(a) (vii) substitutes the conditions which is that CENVAT credit on inputs and capital goods, used for providing the taxable service has not been taken under the provisions of CENVAT Credit Rules, 2004. Services by a tour operator Clause 1(a) (viii) seeks to substitute the existing provisions in relation to the services b .....

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ules, 2004; The invoice, bill or challan issued indicates that it is towards the charges for such accommodation; This exemption shall not apply in such cases where the invoice, bill or challan issued by the tour operator, in relation to a tour, includes only the service charges for arranging or booking accommodation for any person but does not include the cost of such accommodation. The second one is services provided by a tour operator other than a tour, for the purpose of arranging or booking .....

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f complex Clause 1(a)(ix) of the Notification seeks to substitute the existing one. The newly substituted service is construction of a complex, building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly except where entire consideration is received after issuance of completion certificate by the competent authority. 30% abatement is given for this service subject to the following conditions: CENVAT credit on inputs used for providing the taxable service has not .....

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tion to the service, whether or not supplied under the same contract or any other contract. The proviso to this explanation BA provides that the fair market value of goods and services so supplied may be determined in accordance with the generally accepted accounting principles. Package Tour Clause 1© seeks to omit clause (b) of para 2 which defines the term package tour . Notification No. 9/2016- ST, dated 01.03.2016 Vide Notification No.9/2016, the Board brought amendments to mega exempti .....

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or metro; The new exemptions as detailed below are inserted in Notification No. 25/2012-ST: The services of life insurance business provided by way of annuity under the National Pension System regulated by Pension Fund Regulatory and Development Authority of India; Services provided by SEBI by way of protecting the interests of the investors in securities and to promote the development of, and to regulate, the securities market; Services provided by Employees Provident Fund Organization to empl .....

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al Trust for the Welfare of Persons with Autism, Cerebral Palsy, Mental Retardation and Multiple Disability in collaboration with private/public insurance companies; The threshold exemption limit of consideration charged for services provided by a performing artist in folk or classical art forms of music, dance or theatre, is increased from ₹ 1 lakh toRs.1.5 lakh per performance; Services provided by way of skill/vocational training by Deen Dayal Upadhyay Grameen Kaushalya Yojana training .....

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not constructed for existing slum dwellers; Services by way of construction, erection etc., of a civil structure or any other original works pertaining to the Beneficiary-led individual house construction/enhancement component of Housing for All Mission/Pradhan Mantri Awas Yojana; (with effect from 01.04.2016); (with effect from 01.04.2016) Services by way of construction, erection etc., or original works pertaining to low cost houses up to a carpet area of 60 sq.m per house in a housing project .....

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2016-ST, dated 01.03.2016 The Point of Taxation Rules, 2011 have been framed under provisions of Section 94 (1)(a) and (hh), now specific powers is also being obtained under Section 67A to make rules regarding point in time of rate of service tax. Thus, any doubt about the applicability of service tax rate of apparent contradiction between Section 67A and POTR would be taken care of. Therefore consequent modifications have been done in POTR. Rule 5 of POTR applies when a new service comes into t .....

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ew levy would not apply. Another Explanation is being inserted therein stating that in situations other than those specified where new levy or tax is not payable, the new levy or tax shall be payable. This Notification came into effect from 01.03.2016. Notification No. 11/2016-ST, dated 01.03.2016 Vide this Notification, the Central Government exempts service in relation to Information Technology Software leviable to service tax under Section 66B read with Section 66E of the Act when such Inform .....

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ses of levy of the duty of central excise or the additional duty of customs leviable under Section 3(1) of the Customs Tariff Act, 1975, if imported, as the case may be, has been determined under Section 4A of the Central Excise Act, 1944; and (a) the appropriate duties of excise on such value have been paid by the manufacturer, duplicator or the person holding the copyright to such software, as the case may be, in respect of such media manufactured in India; or (b) appropriate duties of customs .....

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ss Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) recognized by the National Science and Technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, Government of India. Notification No. 12/2016-ST, dated 01.03.2016 extends the said exemption to bio-incubators recognized by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India .This Notification comes into effect from 01.04. .....

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16 receives the consent of the President. Notification No. 14/2016-ST, dated 01.03.2016 Notification No.8/2006-ST, dated 19.04.2006 has fixed the interest @ 15% per annum for the purposes of Section 73B (Interest on amount collected in excess). This interest rate has been amended to 18% which will come into force on the day the Finance Bill, 2016 receives the assent of the President. Notification No. 15/2016-ST, dated 01.03.2016 Section 107(h) of Finance Act, 2015 proposed to omit Section 65B(49 .....

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. Notification No.7/2015-ST, dated 01.03.2015 proposes to omit the expression by way of support services with effect from such date as the Central Government may, by notification in the Official Gazette, appoint. Vide this Notification the Central Government appoints 01.04.2016 for the omission of the above expression. Notification No. 17/2016-ST, dated 01.03.2016 Rule 2(1)(d) provides the person liable to pay service tax. Rule 2(1)(d)(i)(E) discusses in relation to support services provided or .....

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Notification No. 30/2012-ST, dated 20.06.2012 deals with reverse charge payment details. Notification 18/2016-ST, dated 01.03.2016 proposed to make some amendments to Notification No. 30/2012-ST, dated 20.06.2012. This notification will come into effect from 01.04.2016. Para 1(a)(i) of the Notification proposes to omit para 1 (A) (ib) which deals with the taxable service provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset management company. Para 1 .....

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