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DECLARED SERVICES & GST

Service Tax - By: - Mr. M. GOVINDARAJAN - Dated:- 22-11-2016 - The Finance Act, 1994 covers nearly 120 services in the service tax net up to the year 2012 during which negative list was introduced. As such all services except the services in the negative list and in the mega exemption list are liable for the levy of service tax. However, there are certain activities which are difficult to determine whether such activities would be classified as a service or not. Therefore the Government while in .....

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immovable property; construction of a complex, building, civil structure or a part thereof, including a complex or building intended for sale to a buyer, wholly or partly, except where the entire consideration is received after issuance of completion-certificate by the competent authority. Explanation.- For the purposes of this clause,- the expression competent authority means the Government or any authority authorized to issue completion certificate under any law for the time being in force an .....

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f any existing civil structure; (c) temporary transfer or permitting the use or enjoyment of any intellectual property right; development, design, programming, customization, adaptation, up gradation, enhancement, implementation of information technology software; agreeing to the obligation to refrain from an act, or to tolerate an act or a situation, or to do an act; transfer of goods by way of hiring, leasing, licensing or in any such manner without transfer of right to use such goods; activit .....

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w the service tax is to be subsumed in the Goods and Services Tax, which is expected to be effective from 01.04.2017. Under this regime three types of taxes are to be levied viz., Central Goods and Services Tax, Sales Goods and Services Tax and Integrated Goods and Service Tax. The Empowered Committee of State Finance Ministers released Model Goods and Services Tax Act, 2016 in June 2016 which is yet to be made as a law. The taxation under this Act is on the basis of supply. Section 3 of the Act .....

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a consideration; Section 3(2) provides that Schedules in respect of matters mentioned therein, shall apply for determining what is, or is to be treated as a supply of goods or a supply of services. In Schedule II of Model GST Act, 2016, almost all the declared services in Section 66E of the Finance Act are found place, except the following- transfer of goods by way of hiring, leasing, licensing or in any such manner without transfer of right to use such goods; assignment by the Government of th .....

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