The document discusses various services covered under the negative list in section 66D of the Indian tax code. It provides exemptions for services provided by government authorities, Reserve Bank of India, foreign diplomatic missions, agricultural activities, and some financial services. Some sectors discussed in detail include advertising, healthcare, property, transportation, and education. Exemptions are also provided for small service providers below a revenue threshold.
This PPT talks about the services rendered outside the Territorial waters and the Service Tax applicability on the same. Under the International Law, recent developments have shown that the territory of a country, for exercising their jurisdictional rights and internal laws, has been extended to the Continental shelf and the Exclusive Economic Zones. But the rights given to the coastal country are limited and restricted. When compared with the previous notification passed by the Central Government, now the service tax will be charged irrespective of the area being designated or non-designated in the EEZ and the Continental shelf. This paper will analyse the implementations of the new amended notification. It will also compare the new notification with the other notifications of the Customs & Excise Act and Income Tax Act for drawing an extent of the applicability of the act to the territory of India, whether or not Service Tax can be charged for an area outside the territorial waters.
Service tax continues to be a complex tax law. The makers of law, in effort to project GST as the future law, preferred to ignore the agony of the tax payer in its current form.
The way things are moving GST is not slated to be a better tax law and shall give more pain than relief. The debate on GST is going to be a long battle. Advisable to digest the present service tax law as in all probability it would form basis for the new law.
This PPT talks about the services rendered outside the Territorial waters and the Service Tax applicability on the same. Under the International Law, recent developments have shown that the territory of a country, for exercising their jurisdictional rights and internal laws, has been extended to the Continental shelf and the Exclusive Economic Zones. But the rights given to the coastal country are limited and restricted. When compared with the previous notification passed by the Central Government, now the service tax will be charged irrespective of the area being designated or non-designated in the EEZ and the Continental shelf. This paper will analyse the implementations of the new amended notification. It will also compare the new notification with the other notifications of the Customs & Excise Act and Income Tax Act for drawing an extent of the applicability of the act to the territory of India, whether or not Service Tax can be charged for an area outside the territorial waters.
Service tax continues to be a complex tax law. The makers of law, in effort to project GST as the future law, preferred to ignore the agony of the tax payer in its current form.
The way things are moving GST is not slated to be a better tax law and shall give more pain than relief. The debate on GST is going to be a long battle. Advisable to digest the present service tax law as in all probability it would form basis for the new law.
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various provisions for exemptions under the GST Law. In this Part II of the webinar, we shall analyse and understand such provisions.
Presentation on service tax Act 1994, for undergraduate commerce students of Goa University. Includes historical background, year wise tax collection e for last 20 years and procedural aspect of service tax Act 1994 with latest amendments are covered.
On 16 March 2012, the Honorable Finance Minister of India presented in the Parliament the country's Finance Bill for 2012-13, containing proposals on direct and indirect taxes, and key policy initiatives.
In this regard , we are pleased to release the update capturing the key amendments proposed by Finance Bill 2012, in Service Tax provisions of Indian Indirect Tax Law.
The key highlights of the major changes suggested are as follows:
Introduction of Negative List.
Changes in the rate of tax.
Changes in Valuation Rules.
Point of Taxation Rules amended.
We hope this makes for an interesting and informative read.
Declared Services (Section 66E of Finance Act, 1994)Rajat Agrawal
A presentation on Section 66E of Finance Act, 1994 - Declared Services. The presentation was made in an attempt to be simple, yet comprehensive for seminar purposes.
CA IPCC Indirect Tax Amendments for Nov 2015CA Karishma
Website: www.cakarishma.com
Facebook: https://www.facebook.com/cakarishma.in
Indirect Tax Amendments - Quick Revision PPT for CA IPCC applicable for Nov 2015 Examination by CA Karishma
There are so many changes done by Finance Bill, 2016 in various Act's. Provisions for service tax has also been amended or proposed to be amended. This budget was much awaited because a massive change is awaiting in the form of GST. Looking, to the large number of changes, we have consolidated changes with respect to Service tax in one presentation. Changes are classified according to subject in order to ensure ease of understanding.
Hello Friends ,
This slides contains
1) Service Tax Amendments Finance Act 2016
2) CENVAT Rules Amendments Fiance Act 2016
3) Case Laws-
a) No Service Tax on FLats where value of land is included.
b) No Service Tax Audit by Departmental Person
OBJECTIVE
Goods and Services Tax (GST) is an Indirect Tax levied in India introduced in July 2017 which was one of the most important reforms in the Indian Economy. There are various provisions for exemptions under the GST Law. In this Part II of the webinar, we shall analyse and understand such provisions.
Presentation on service tax Act 1994, for undergraduate commerce students of Goa University. Includes historical background, year wise tax collection e for last 20 years and procedural aspect of service tax Act 1994 with latest amendments are covered.
On 16 March 2012, the Honorable Finance Minister of India presented in the Parliament the country's Finance Bill for 2012-13, containing proposals on direct and indirect taxes, and key policy initiatives.
In this regard , we are pleased to release the update capturing the key amendments proposed by Finance Bill 2012, in Service Tax provisions of Indian Indirect Tax Law.
The key highlights of the major changes suggested are as follows:
Introduction of Negative List.
Changes in the rate of tax.
Changes in Valuation Rules.
Point of Taxation Rules amended.
We hope this makes for an interesting and informative read.
Declared Services (Section 66E of Finance Act, 1994)Rajat Agrawal
A presentation on Section 66E of Finance Act, 1994 - Declared Services. The presentation was made in an attempt to be simple, yet comprehensive for seminar purposes.
CA IPCC Indirect Tax Amendments for Nov 2015CA Karishma
Website: www.cakarishma.com
Facebook: https://www.facebook.com/cakarishma.in
Indirect Tax Amendments - Quick Revision PPT for CA IPCC applicable for Nov 2015 Examination by CA Karishma
There are so many changes done by Finance Bill, 2016 in various Act's. Provisions for service tax has also been amended or proposed to be amended. This budget was much awaited because a massive change is awaiting in the form of GST. Looking, to the large number of changes, we have consolidated changes with respect to Service tax in one presentation. Changes are classified according to subject in order to ensure ease of understanding.
Hello Friends ,
This slides contains
1) Service Tax Amendments Finance Act 2016
2) CENVAT Rules Amendments Fiance Act 2016
3) Case Laws-
a) No Service Tax on FLats where value of land is included.
b) No Service Tax Audit by Departmental Person
Service tax on educational services - Dr Sanjiv AgarwalD Murali ☆
Service tax on educational services - Dr Sanjiv Agarwal - Article published in Business Advisor, dated January 25, 2015 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
The negative list of services under the proposed section 66D of the Finance Act 1994
The proposed section 66D reads as follows:
66D. The negative list shall comprise of the following services, namely:––
Mega exemption for services
Visit
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@Pi_vendor_247
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@Pi_vendor_247
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@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
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The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
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2. NEGATIVE LIST SERVICES
Section 66D
Services by Government / Local Authority,
Services by the Reserve Bank of India,
Services by Foreign Diplomatic Mission,
Services in relation of Agriculture,
Trading of goods,
Manufacture of goods,
6:46 PM
3. Discussion of exemptions and
negative list
General Exemption for Small Service Providers,
Exemptions based on the Status of Service
Provider,
Exemptions based on the Status of Service
Receiver,
Industry-Wise Exemptions, and
Miscellaneous Exemptions
6:46 PM
4. NEGATIVE LIST SERVICES
Section 66D
Selling of space or time for advertisement,
Services by way of access to road or bridge,
Betting, Gambling, etc.,
Entertainment Events and Amusement
Facilities,
Transmission or Distribution of Electricity,
Educational Services
6:46 PM
5. NEGATIVE LIST SERVICES
Section 66D
Renting of Residential Dwelling,
Financial Services,
Transportation of passengers,
Transportation of Goods,
Mortuary Services.
6:46 PM
7. Exemption
Aggregate Value of taxable services
received / invoices raised not exceeding
`10 Lakhs ( aggregate of all kinds of services
from all premises)
Service Provider will be liable to pay tax only
in respect of payments received / invoices in
excess of `10 Lakhs
6:46 PM
8. CENVAT Credit
Not available up to specified period /amount …(`10
Lakhs)
CENVAT Credit Available --after the exemption
period /amount ( exceeding `10 Lakhs)
Reverse the duty credit in respect of inputs in
stock and inputs in process as on the date on
which the he starts availing exemption benefit
Unavailed Credit on the date of availing
exemption will be lapsed
6:46 PM
9. Nature of Exemption
The exemption benefit is optional, and
the Service Provider can choose not to opt
for this exemption.
However, the option once exercised,
shall not be withdrawn during the
remaining part of that financial year.
6:46 PM
10. Nature of Exemption
The exemption benefit is optional, and
the Service Provider can choose not to opt
for this exemption.
However, the option once exercised,
shall not be withdrawn during the
remaining part of that financial year.
6:46 PM
13. Special Economic Zone
It is a zone specified as Special Economic
Zone by the Central Government
[u/s 3(1) Proviso Expln. 3(iii) of CEA,
1944]
Special Economic Zone is a specifically
delineated area, considered as an area
beyond the territory of India, for the
purpose of Taxes ad Duties
6:46 PM
14. Developer of Special Economic
Zone
A person engaged in –
(i) Development, or
(ii) Operation, or
(iii) Maintenance, of an SEZ
Inclusion: Person authorized by the
Developer for such purpose
6:46 PM
15. Nature of Exemption
6:46 PM
If Service
received are
Exclusively used
for SEZ’s
authorized
operations
Not exclusively
used for SEZ
Service
Providers
Duties
Need not levy ST in
his Invoice raised
on Developer or
Unit of SEZ
Shall levy ST in his
Invoice, collect and
pay to Government
Refund of ST Does not arise ST Refunded to
Developer or Unit
in SEZ
17. Negative List
All Services received by Government
(Central / State Government / union
Territories) or a Local Authority are covered
by Negative List
6:46 PM
18. Services not in Negative List =
Taxable Services
Services by the Department of posts by way of
Speed Post, Express Parcel post, Life Insurance and
Agency Services….> provided to a person other
than Government.
Services provided to Government or Local
Authority or Governmental Authority by way of
repair or maintenance of an aircraft is taxable.
(Whether it is inside or outside the precincts of a
port or an airport)
[Impact: Earlier such service was exempted].
6:46 PM
19. Services not in Negative List =
Taxable Services
Transport of Goods or Passengers on charter or
hire basis.
(Note: If the transportation is by Stage Carriage or
by Railways in specified class or by Metro /
Monorail / tramways or Inland Waterways or
Public Transport in vessel, it is exempt from tax)
Other Support Services provided to business
entities.
6:46 PM
21. Taxable Services
1.Courier Services (Speed Post)
2.Insurance Services(Postal Life Insurance),
3.Agency or Intermediary Services on
commission basis (Distribution of Mutual
Funds, Bonds, Passport Applications,
Collection of Telephone & Electricity Bills).
Note
The above activities are taxable, as they are rendered
by other Commercial entities also
6:46 PM
22. Non- Taxable Services
1. Basic Mail Services known as Postal Services
such as Post card, Inland Letter, Book Post,
Registered Post provided exclusively by the
Department of Posts to meet the universal postal
obligations.
2.Transfer of money through Money Orders,
Operation of Savings Accounts, Issue of Postal
Orders, Pension Payments and other such
Services.
6:46 PM
23. RESERVE BANK OF INDIA [Sec.
66D(b)]
Negative List: All services provided or agreed to be
provided by the Reserve Bank of India are not liable for
ST
6:46 PM
24. RESERVE BANK OF INDIA [Sec.
66D(b)]
Taxability: The following services are still liable
for Service Tax-
a. Any Service provided to the Reserve
Bank of India
b. Any service provided to the RBI, where the
Service Tax is payable by RBI under reverse charge
mechanism
6:46 PM
25. FOREIGN DIPLOMATIC MISSION
[S.66D(C)
Service Provided
To
Purpose
Foreign Diplomatic
Mission or Consular
post in India
Official Use of such
Foreign mission /
Consulates
Diplomatic Agents or
Career Consular
Officers or their
family members
Personal use of such
persons
6:46 PM
26. UNITED NATIONS AND
INTERNATIONAL ORGANISATIONS
United Nations International Children’s Emergency Fund
(UNICEF)
United Nations Educational, Scientific and Cultural
Organization (UNESCO)
Food and Agriculture Organizations of the United Nation.
World Health Organization (WHO)
International Telecommunication Union.
International Labour Organization (ILO)
International Monetary Fund(IMF)
World Bank
Universal Postal Union.
International Civil Aviation Organization.
6:46 PM
27. CHARITABLE TRUSTS
Public Health
Advancement or religion or spirituality
Advancement or educational programmes or skill
development for abandoned, orphaned or homeless
children/ physically or mentally abused and
traumatized persons / prisoners/ persons above 65
years residing in rural area.
Preservation of environment including watershed,
forests and wildlife
6:46 PM
30. ADVERTISEMENT[Sec.66D(g)]
Negative List: Selling of Space or Time Slots for
advertisements are not liable for service tax.
This includes the following activities:
a. Advertisements in Newspapers and
Journals, i.e. Print Media,
b. Advertisements in Bill Boards, Public Places
(including stadium,)Buildings, Conveyances, Cell
Phones, ATMs, internet, etc.
6:46 PM
31. Taxable Services
Advertisements in Radio or Television,
Sale of Time Slot by Broadcasting
Organization,
Mere Canvassing advertisement of publishing
on a newspaper on commission basis,
Services rendered by Advertisement Agencies
relating to making or preparation of
advertisements, facilitation services to
Broadcasting / publishing companies.
6:46 PM
32. SPORTSPERSON / SPORTS
RELATED ACTIVITIES
Exemption:
1. Services provided by an individual as a
Player, Referee, Umpire, Coach or Team
Manager to a recognized Sports Body, in
relation to participation in a sporting event
organized by a recognized Sports Body.
2. Services by way of Sponsorship of
sporting events
6:46 PM
33. SPORTSPERSON / SPORTS
RELATED ACTIVITIES
Taxable Services:
a. Services by individuals such as
Selectors, Commentators, Curators and
Technical Experts.
b. Services by a sports person to any
Franchisee are taxable, since such
Franchisee is not a recognized sports
body
6:46 PM
34. AMUSEMENTS PARKS AND OTHER
ENTERTAINMENT
SER VICES[Sec.66D(j)]
Negative List: Services of admission to
entertainment events / access to
amusement facilities do not attract
Service Tax
6:46 PM
35. Taxable Services
Catering, Transportation, Guest-house
Services provided within the Amusement
Park,
Membership of a Club, which enables access
to recreational facilities.
Input Services provided by a person like an
Event Manager for organizing an
Entertainment Event or by an Entertainer
for the providing the entertainment
6:46 PM
36. HEALTH CARE SERVICES
Exemption:
Health Care Services by a Clinical
Establishment, an Authorized Medical
Practitioner or Para-medics.
Services by a Veterinary Clinic in
relation to health care of animals or
birds.
6:46 PM
37. PROPERTY RELATED SERVICES
(S.66D(m,h)
Negative List: The following activities are
exempt from ST –
Renting or Residential Dwelling for use as
residence.[Sec.66D(m)]
Access to a road or bridge on payment of
Toll Charges. [Sec.66D(h)]
6:46 PM
39. FINANCIAL SERVICES [Sec.66D(n)]
Negative List: Services by way of –
Extending Deposits, Loans or Advance, to
the extent the consideration is interest
or discount.
Sale or purchase of Foreign Currency
between 2 or more Banks, between 2 or
more Authorized Dealers or between Banks
and Authorized Dealers
6:46 PM
40. Miscellaneous Services
Services Provided by an Advocate (` 10
lakhs)
Services by Arbitral Tribunal or
Members thereof
Services by an Association of Persons to
its Members
Exemptions for Intermediary Services
6:46 PM
41. Miscellaneous Services
Betting, Gambling or Lottery
[Sec.66D(i)]
Transmission or Distribution of
Electricity a Taxable Service [Sec.66D(k)]
Services provided as part of Supply of
Food for Human Consumption
Exemptions available to Science and
Technology Parks / Units
6:46 PM