Service Tax
Introduction of eight new taxable services
Specific exemptions under following categories given w.e.f 27-02-2010
- Services for promoting, marketing, organizing / assisting in organizing games of chance
- Health services provided by hospitals, nursing homes or multi-specialty clinics to Employees of business entity in relation to health check-up or preventive care
- Services in relation to storing, keeping or maintaining medical records of employees
- Services of promoting or marketing of 'brand' of goods, services, events or endorsement of a name
- Services of granting the right or permitting commercial use / exploitation of any event including events related to art, entertainment, business, sports or marriage.
- Services provided by electricity exchanges in relation to electricity related contract
- Services in relation to copyright of cinematographic film and sound recording.
- Services of preferential location or development of complex provided by a builder
- Renting of immovable property shall be regarded as taxable service retrospectively w.e.f 1 June, 2007
- Airport service, port service and other port service
- Transport of passenger by air service
- Commercial training or coaching service
- Construction of Complex service
Specific exemptions under following categories given w.e.f 27-02-2010
- Erection, commissioning or installation
- IT software service
- Online information and database access or retrieval service and Business auxiliary service
- Technical testing and analysis service and Technical inspection and certification service
- To exempt service of transmission of electricity
- Withdrawal of exemption granted to the Government of Rajasthan in relation to the Group Personal Accident Scheme provided to its employees
- Transport of goods by rail: Withdrawal of exemption granted to Government railways for transport of goods
- Rate of excise duty increased from 8 percent to 10 percent on non-petroleum goods.
- Removal of moulds, dies, jigs, fixtures to vendors permitted without reversal of Cenvat credit. This benefit was earlier available only to job workers.
- Small scale industry allowed benefit of claiming full Cenvat credit on capital goods in the first year of its receipt and paying excise duty liability on a quarterly basis instead of a monthly basis w.e .f 1st April, 2010.
- Customs duty rates remain unchanged. However, the effective rate should increase due to change in the excise (CVD) rates
- Upfront exemption from ADC on imported pre- packaged goods and other specified goods intended for resale.
- Project import benefit extended to the following specified projects:
- Mono Rail Project for urban transport
- Setting up of digital headend
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