Services provided through the way of- Expanding discounts, loans, or advances such that the consideration is represented through interest or discount.
Sale or purchase of foreign currency, amongst banks and dealers, or banks and authorized dealers of foreign exchange. Service of movement of passengers through transportation units, with belongings such as- Stage carriage One railway in a category other than first-class or air-conditioned class.
Metro or subway and tramway or monorail. Waterways that are laid inland. Public transport, except for the ones used for tourism purposes, of fewer than fifteen-ton net value. Motorcars, metered taxi or cab, autorickshaws. Services by the approach of transportation of products and goods- By road except those serviced through goods or products transportation agency or courier agency.
Through an aircraft or from an area that lies outside of India to the primary customs station that comes first on landing in the country. Services for transportation of the deceased and place of ceremony for the deceased such as the crematorium, mortuary, burial ground, and funeral ground. All these points are included in the negative list of service tax. The negative list of services is a little different from the list of exempted services.
Exempted services are those that are still taxable but not in the form of service tax. While the negative list of services is not taxable at all. In the year , revenue generation for the Indian government through service tax was Rs. FAQs Q- What kind of tax is a service tax? Q- What is the current applicable percentage of service tax? Q- Are all other services except those mentioned in the negative list to be taxed under service tax? All services mentioned in the negative list are non-taxable, but there is also a list of exempt services that are outside the scope of service tax.
These exempted services may or may not be taxed under any other tax structure. Q- Which department of the Indian government levies service tax? Next Post » Why do so many small businesses fail?
Economics English Finance Govt. How is marketing different from advertising [Marketing vs Advertising] You Might Be Interested In. Admission to entertainment event or to amusement facilities:. Since it also a SG tax entertainment tax so no service tax on it. However, note that membership of club is neither entertainment event nor an amusement facility, so liable to service tax.
Also note that auxiliary services like event manager organizing an entertainment event are not covered in negative list and hence liable to service tax. Transmission or distribution of electricity by an electricity transmission or distribution utility:. So, services provided by private contractors are not included in negative list. Services in the field of education including:.
Services by way of renting of residential place for use as residence:. Note that residential place should not be used for commercial purpose or partly for residential and partly for commercial use. Note that transaction between bank and general public, or other parties are not covered in negative list. Service of transportation of passengers with or without accompanied baggage :. Therefore, services provided by way of rail first class AC will be liable to service tax.
Similarly any special bus charter from Delhi to Faridabad or a tourist bus, tourist cab will be liable to service tax. Service by way of transportation of goods:. Services provided with regard to funeral, burial, crematorium, or mortuary including transportation of the decreased. Can water suply unpacked is under negative list under service tax. If yes, then please quote notification etc. Subsidy received by service provider from government in lieu of any taxable service. This will be taxable or not?
Dear Ms Surabhi May I seek a clarification on item no 12 which pertains to negative list about Education services. I am a consultant to one of K12 schools in Gurgaon. Thanks for the negative list but I would like to tell you that entry no. The same is fall under General Exemption. Surbi Ji one clarity is required on an issue. State Govt is issuing works related to desigining ,architecturing some projects to the University which is established under state act and follow state govt rules,and university executes the project thru its architecture department,.
Now my question is whether University which is Local Authority established under state act ,should charge service tax on Project value from state govt.
Another point is when university does executes the project as awarded by state govt, it pays consultancy charges to some architects hired from within university as well as from outside university ,whether university is liable to pay service tax on such charges paid. Pls clarify. Your email address will not be published. Post Comment. Notice: It seems you have Javascript disabled in your Browser.
In order to submit a comment to this post, please write this code along with your comment: ccebba17e8. All Rights Reserved. Password Passwords are Case Sensitive. Forgot your password? Free, unlimited access to more than half a million articles one-article limit removed from the diverse perspectives of 5, leading law, accountancy and advisory firms. We need this to enable us to match you with other users from the same organisation. It is also part of the information that we share to our content providers "Contributors" who contribute Content for free for your use.
Learn More Accept. Singh and Megha Kapoor. Your LinkedIn Connections with the authors. To print this article, all you need is to be registered or login on Mondaq. New concepts The new concepts introduced under the new Service Tax Regime based are being discussed below. In order to ensure wide coverage of services under the ambid of service tax, the term 'Service' has been defined under the new inserted section 65B 44 in the Finance Act, , which reads as follows- "Service" means any activity carried out by a person for another for consideration, and includes a declared service, but shall not include— a an activity which constitutes merely,—— i a transfer of title in goods or immovable property, by way of sale, gift or in any other manner; or ii such transfer, delivery or supply of any goods which is deemed to be a sale within the meaning of clause 29A of article of the Constitution; or iii a transaction in money or actionable claim.
Meaning of Declared Services As per the definition of "Service" as contained under Section 65B 44 of the Finance Act, the term service includes declared services. Further, the section specifically mentions the following nine services as ' declared services' : a renting of immovable property b 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.
Negative List Negative list of services means that all services, excluding those specified in negative list will be subject to service tax. Chargeability under the new approach The taxability of services or the charge of service tax has been specified in section 66B of the Finance Act which reads as follows: " There shall be levied a tax at the rate of twelve per cent on the value of all services, other than those services specified in the negative list, provided or agreed to be provided in the taxable territory by one person to another and collected in such manner as may be prescribed.
Conclusion The new approach to taxation of services will benefit the service provider in order to understand the law and the applicability of the tax on the services to be provided. Manoj K. Megha Kapoor. India Tax Corporate Tax. This update covers key judicial decisions relating to GST, service tax and customs. Taxability of IPR under indirect tax laws has always been surrounded by ambiguous interpretation in relation to its transfer from its owner. The relevance of intellectual property as an asset has just surged in the last few decades and has become a strong foot for the economic development of the nations.
Stamp duty is a very important factor in structuring transactions, specially with many of the states in India imposing high stamp duties on documents to shore up their revenues. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email.
Register For News Alerts. Article Tags. Phoenix Legal. NOV
0コメント