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EXEMPTIONS RESTORED RETROSPECTIVELY BY FINANCE ACT 2016

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 18-7-2016 - Exemption to canal, dam or other irrigation works ( section 101 ) Finance Act, 2016 has inserted a new section 101 to provide for special retrospective exemption in certain cases relating to construction of canal, dam etc. The text of section 101 is as follows :- 101. (1) Notwithstanding anything contained in section 66B, no service tax shall be levied or collected during the period commencing from the 1st day of July, 2012 and ending .....

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ir, maintenance, renovation or alteration of canal, dam or other irrigation works. (2) Refund shall be made of all such service tax which has been collected but which would not have been so collected had sub-section (1) been in force at all material times. (3) Notwithstanding anything contained in this Chapter, 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. It ma .....

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s provided during the period from the 1st July, 2012 to 29.01.2014. (b) Refund of Service Tax paid on the said services during the period from the 1st July, 2012 to 29.01.2014 shall also be allowed in accordance with the law including the law of unjust enrichment. Application for refund may be allowed to be filed within a period of six months from the date on which the Finance Bill, 2016 receives the assent of the President. The provision has come into force on enactment of Finance Bill, 2016 i. .....

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ing to construction of Government buildings - (1) Notwithstanding anything contained in section 66B, no service tax shall be levied or collected during the period commencing from the 1st day of April, 2015 and ending with the 29th day of February, 2016 (both days inclusive), in respect of taxable services provided to the Government, a local authority or a Governmental authority, by way of construction, erection, commissioning, installation, completion, fitting out, repair, maintenance, renovatio .....

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aid Act, under a contract entered into before the 1st day of March, 2015 and on which appropriate stamp duty, where applicable, had been paid before that date. (2) Refund shall be made of all such service tax which has been collected but which would not have been so collected had sub-section (1) been in force at all the material times. (3) Notwithstanding anything contained in this Chapter, an application for the claim of refund of service tax shall be made within a period of six months from the .....

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; a residential complex predominantly meant for self-use or the use of their employees or other persons specified in the Explanation 1 to clause 44 of section 65B of the said Act; was withdrawn with effect from 1.4.2015. The same has been restored for the services provided under a contract which had been entered into prior to 01.03.2015 and on which appropriate stamp duty, where applicable, had been paid prior to that date. The exemption has been restored till 31.03.2020. As per the proviso to E .....

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g the period from 01.04.2015 to 29.02.2016 under such contracts shall also be exempted from service tax. In terms of Section 102(2), if any assessee has already paid service tax in respect of above services provided for the period 01.04.2015 to 29.02.2016, then it shall be entitled to refund of service tax paid on the said services in accordance with the law subject to the satisfaction of principle of unjust enrichment. It may be noted that in terms of Section 102(3), an application for the clai .....

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ng anything contained in section 66B, no service tax shall be levied or collected during the period commencing from the 1st day of April, 2015 and ending with the 29th day of February, 2016 (both days inclusive), in respect of services provided by way of construction, erection, commissioning or installation of original works pertaining to an airport or port, under a contract which had been entered into before the 1st day of March, 2015 and on which appropriate stamp duty, where applicable, had b .....

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