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
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
CA IPCC Indirect Tax Amendments for Nov 2015CA Karishma
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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
The presentation contains the history of Reverse charge machainism from the date from which it was inroduced and the subsequent amendments. We have added all the services covered under Reverse Charge Mechainism till date. For ease of understanding, we have presented every service in the form of chart and diagrams.
Moving beyond the market segment A study of the homogenised (mis)representati...Chanel Whitcher
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Moving beyond the market segment
A study of the homogenised (mis)representation of the South African family in advertising
Chanel Whitcher, 2016
KANTAR â Visio (Graphic Designer)
SAMRA 2016
CA IPCC Indirect Tax Amendments for Nov 2015CA Karishma
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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
The presentation contains the history of Reverse charge machainism from the date from which it was inroduced and the subsequent amendments. We have added all the services covered under Reverse Charge Mechainism till date. For ease of understanding, we have presented every service in the form of chart and diagrams.
Moving beyond the market segment A study of the homogenised (mis)representati...Chanel Whitcher
Â
Moving beyond the market segment
A study of the homogenised (mis)representation of the South African family in advertising
Chanel Whitcher, 2016
KANTAR â Visio (Graphic Designer)
SAMRA 2016
Eight Proven Content Creation & Marketing Strategies with Case StudiesGold and Silver Online
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This presentation shows key ways to create content easily and systematically, even if you don't consider yourself a writer, using eight content creation & marketing strategies. These were proven using a city-based blog, which is now a full fledged publication. In this session, you'll learn how one hyper local event website grew from one contributor to 25 and from zero traffic to 23,000 visitors a month, and is now syndicated by sites like Pegasus News. This is not a Social Media 101 class.
Here are some other specifics you'll learn:
- The Four Pillars of Online Marketing
- Five Goals to Have with Every Post
- Eight Tools for Benchmarking, Monitoring & Measuring Success
- Six Ways to Blog with More Authority & Credibility
We'll dig deeper in the second half of this session and get into the specifics of how to find others who will create content and market it for you, small tweaks you can make for SEO, and get into some case studies that show the results of these strategies.
More specifically you'll learn:
- Six Maximum SEO Power Positions for Your Keyword Targets
- How to Actively Recruit & Pitch Guest Bloggers
- Five things to consider when creating backlinks
- Three case studies of traffic attraction using these eight strategies
The MarkeTech Group Scientific Method Webinar by Robert Enzerink and James Garvin
How Much Are Clinical Customers Willing To Pay? -- Using Voice-of-the-Customer To Get Your Key Questions Answered
Trying to determine what features and benefits you should go to market with or which of those features your customers truly value the most and are willing to pay a premium for,...can be one tough nut to crack.
A common challenge in the medical field is to move beyond the internal filters and biases created when your input comes primarily through your sales force and KOL channels.
KOLs tend to be early adopters and technology geeks; engineering teams are convinced that a more technically advanced product will sell itself; sales will push for lower prices so they can compete; and regulatory bodies like CMS keep tightening reimbursement pressures... Executives need credible information to guide decisions.
The MarkeTech Group
502 Mace Blvd.
Davis, CA 95618
www.themarketechgroup.com
How To Identify Opportunities & Grow Market Share in a Specific Hospital SegmentThe MarkeTech Group
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Visit Us on the Web: http://www.themarketechgroup.com/?utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=How+To+Identify+Opportunities
About Us:
With offices in North America and Europe, The MarkeTech Group provides a unique combination of extensive marketing research methodology expertise, deep medical technology domain knowledge and value-added strategic marketing consulting to medical technology companies who seek high quality marketing research studies and professional marketing strategy consulting.
The MarkeTech Group's team of marketing research and strategy experts take pride in integrating their leading voice of customer (VOC) research expertise and strategic consulting into their clients' marketing and R&D departments to help successfully launch and maintain profitable products in healthcare.
The MarkeTech Group, LLC
502 Mace Blvd, Suite 15
Davis, CA 95618
Tele: (+1) 530-792-8400
Fax: (+1) 530-792-8447
The MarkeTech Group, SARL
3, Rue Emile PĂŠhant
44 000 Nantes
Tele: +33 (0)2 72 01 00 80
Fax: +33 (0)2 40 48 29 40
Contact Us: http://www.themarketechgroup.com/index.php?page=Contact_TMTG&utm_source=SlideShare&utm_medium=Social+Media&utm_campaign=How+To+Identify+Opportunities
Strategic Marketing and Industrial Markets Case Study of Taiwanese Manufactur...Javier Moreno Mons.
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A Case study of Taiwanese Manufacturers in their initiative to position themselves in South American Markets. It has been proposed an alternative methodology to get relevant data from industrial companies in order to understand in detail their international marketing strategy.
The comparative marketing strategies of case constructions withswastik das
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the marketing strategies of case constructions. It is to know about the competition in the construction equipment that prevails in Odisha market. The target segmentation for these kinds of products are quite low due to its high cost involvement.
Startup marketing requires wearing a lot of hats. This startup marketing strategy case study explores building and launching a corporate brand from the ground up for a digital media startup serving financial services.
Product Life Cycle & Marketing Strategy of Colgate, Dairy Milk and Samsung 3D tvRajat Gandhi
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This Presentation is about the marketing strategy & PLC i.e Product Life Cycle of FMCG products like Colgate & Dairy Milk and a consumer durable good i.e Samsung 3D TV.
Dear All,
Attaching herewith glimpse of the Budget 2016- Indirect Tax.
We have tried to capture all relevant aspects of the Budget which may impact on day to day business activities. Rate changes attributable to individual products and services are not covered.
Any suggestions/ feedback are most welcome.
Thanks and regards,
Nilesh Saboo
Dear All,
Attaching herewith glimpse of the Budget 2016- Indirect Tax.
We have tried to capture all relevant aspects of the Budget which may impact on day to day business activities. Rate changes attributable to individual products and services are not covered.
Any suggestions/ feedback are most welcome.
Thanks and regards,
Nilesh Saboo
nilesh@bsllp.in
Tax Quest
Finance Act, 2016 has effected a number of changes that are effective from 01.06.2016 and this
alert seeks to provide a brief view on such changes.
1. Service Tax on Ocean Freight â Import Segment
Greetings!!
Team ValuFocus is pleased to provide you a Glimpse of the Tax Proposals presented by Honâble Finance Minister during the Budget for the Year 2016-17. A snapshot of the changes has been covered in the note attached.
We would be pleased to hear any comments or suggestions on the same.
What website can I sell pi coins securely.DOT TECH
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Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
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NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
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Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how can i use my minded pi coins I need some funds.DOT TECH
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If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. đ I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
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Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
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In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
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The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new productâit signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
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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.
Could this growth lead to a âRoaring Twentiesâ? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. governmentâs aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
âIn order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,â says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
What price will pi network be listed on exchangesDOT TECH
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The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ â 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Â
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
3. Changes in Rate of
Service Tax
Levy of âKrishi Kalyan Cessâ (KKC)
⢠An enabling provision is being incorporated in the Finance Bill, 2016
(Chapter VI/clause 158) to empower the Central Government to impose
KKC as service tax on all or any of the taxable services at the rate of 0.5
per cent on the value of such services.
⢠Now the effective rate of levy from 01.06.2016 shall be 15% viz., 14%
Service Tax plus 0.5% Swachh Bharat Cess plus 0.5% Krishi Kalyan
Cess. It is important to mention that all other rates shall correspondingly
be changed by way of amendment notification on 01.06.2016.
[effective from 01.06.2016]
Budget 2016 CA Gaurav Gupta 3
4. Changes in Rate of
Service Tax
S.no. Particular
Effective Service
Tax Rate
Effective Swach
Bharat Cess Rate
Effective Krishi
Kalyan Cess
A. Generic Rate - Applicable on all taxable services 14% 0.50% 0.50%
B. Non Taxable Services 0% 0% 0%
- Services provided in Non taxable Territory
- Services listed in Negative List
- Services provided without consideration
C. Wholly Exempted Services 0% 0% 0%
- Notificaiton No. 25/2012-Service Tax dated 20.06.2012 (Mega Exemption),
- Notification No 33/2012-Service Tax (SSI Exemption),
- Notification No. 14/ 2012 â Service tax (Import of Technology),
- Notification No 32/2012-Service Tax (Services by TBI / STEP),
- Notification No. 12/2013 (Services to SEZ),
- Notification No. 29/2012- Service Tax (Property tax in renting),
- Notification No. 6/2013-Service Tax (Exemption against Focus Market Scheme Scrips),
- Notification No. 7/2013-Service Tax (Exemption against Focus Product Scheme Scrips),
- Notification No. 8/2013-Service Tax (Exemption against Vishesh Krishi and Gram
Udyog Yojana),
- Notification No. 11/2015-Service Tax (Exemption against SEIS),
- Notification No. 10/2015-Service Tax (Exemption against MESI)
Budget 2016 CA Gaurav Gupta 4
5. Changes in Rate of
Service Tax
S.No. Income Heads
Rates Effective From
01.06.2016
Taxable
Value
Total Effective Tax
Rate (including Cess)
1 Services in relation to financial leasing including hire purchase 10% 1.50%
2 Transport of Goods in containers by rail by any person other than Indian
Railways
40% 6.00%
2A Transport of Goods by Rail other than as specified above 30% 4.50%
3 Transport of Passengers with or without accompanied belongings by Rail 30% 4.50%
4 Bundled service by way of supply of food or any other article of human
consumption or any drink, in a premises (including hotel, convention
center, club, pandal, shamiana or any other place, specially arranged for
organizing a function) together with renting of such premises
70% 10.50%
5 Transport of passengers by air with or without accompanied belongings
in economy class
40% 6.00%
5A Transport of passengers by air in higher class 60% 9.00%
6 Renting of inns, hotels, Guest houses, clubs, campsites or other
commercial places meant for residential or lodging purposes
60% 9.00%
7 Services of goods transport agency in relation to transportation of goods
other than household goods
30% 4.50%
Budget 2016 CA Gaurav Gupta 5
6. Changes in Rate of
Service Tax
S.No. Income Heads
Rates Effective From
01.06.2016
Taxable
Value
Total Effective Tax
Rate (including
Cess)
7A Services of goods transport agency in relation to transportation of
household goods
40% 6.00%
8 Services provided by a foreman of chit fund in relation to chit 30% 4.50%
9 Renting of motor cab designed to carry passengers 40% 6.00%
9A Transport of passengers, with or without accompanied belongings, by a
contract carriage other than motorcab or a radio taxi or a stage carriage
40% 6.00%
10 Transport of goods in a vessel 30% 4.50%
11 Services by Tour operator in relation to Solely of arranging or booking
accommodation
10% 1.50%
11A Services by Tour operator in relation to tours other than 11 30% 4.50%
12 Construction of a complex, building, civil structure or a part thereof,
intended for a sale to a buyer, wholly or partly except where entire
consideration is received after issuance of completion certificate by the
competent authority
30% 4.50%
Budget 2016 CA Gaurav Gupta 6
7. Changes in Rate of
Service Tax
Services where valuation is determined
Particular Taxable Value
Effective
Service Tax
Rate Effective SBC Effective KKC
Total
Effective Tax
Rate
Works Contract - Original Works 40% 5.60% 0.20% 0.20% 6.00%
Works Contract - Others 70% 9.80% 0.35% 0.35% 10.50%
Restaurant 40% 5.60% 0.20% 0.20% 6.00%
Outdoor Catering 60% 8.40% 0.30% 0.30% 9.00%
Budget 2016 CA Gaurav Gupta 7
8. Changes in Rate of
Service Tax
F. Reverse Charge Mechanism
Taxability of Domestic Reverse Charge Liability
S.No. Service
Rates Effective From June 1, 2016
Taxable
Value
Effective
Service Tax
Rate
Effective
Swach Bharat
Cess Rate
Effecive
Krishi Kalyan
Cess
Total
effective Tax
1 Rent A Cab - with abatement 40% 5.60% 0.20% 0.20% 6.00%
2 Rent A Cab - without abatement 50% 7.00% 0.25% 0.25% 7.50%
3 Manpower Supply 100% 14.00% 0.50% 0.50% 15.00%
4 Security Services 100% 14.00% 0.50% 0.50% 15.00%
5 Payment to Advocates and Lawyers 100% 14.00% 0.50% 0.50% 15.00%
6 Payment for Spnsorship 100% 14.00% 0.50% 0.50% 15.00%
7 Transportation of Goods By Road 30% 4.20% 0.15% 0.15% 4.50%
8 Payment to Independent Director 100% 14.00% 0.50% 0.50% 15.00%
9 Works Contract- For Original Works 20% 2.80% 0.10% 0.10% 3.00%
9 Works Contract- For Other Works 35% 4.90% 0.18% 0.18% 5.25%
10 Payment to Arbiteral tribunal 100% 14.00% 0.50% 0.50% 15.00%
Budget 2016 CA Gaurav Gupta 8
9. Changes in Rate of
Service Tax
Point of Taxation (Date of applciability â 01.06.2016)
Situation Services provided Invoice Issued Payment received
Whether KKC
applicable
Situation A Before Before Before No
Situation B Before Before After Yes
Situation C Before After After Yes
Situation D Before
On or before
14.06.2016 Before No
Situation E Before After 14.06.2016 Before Yes
Situation F After
On or before
14.06.2016 Before No
Situation G After After 14.06.2016 Before Yes
Situation H After Before Before No
Situation I After Before After Yes
Situation J After After After Yes
Budget 2016 CA Gaurav Gupta 9
10. Changes in Rate of
Service Tax
Levy of Service Tax on distributors of Lottery
⢠Explanation 2 in section 65B(44) (definition of âServiceâ) is proposed to be
amended to clarify that activity carried out by a lottery distributor or selling
agents of the State Government under the provisions of the Lotteries
(Regulation) Act, 1998 (17 of 1998), is leviable to service tax.
⢠It is forsen that such levy shall be put to test in Court again by such
distributors / agents in light of the decision in case of Future Gaming
Solutions Pvt Ltd. v UOI[2015 (37) S.T.R. 65 (Sikkim)].
[effective from the date of enactment of Finance Bill, 2016]
Budget 2016 CA Gaurav Gupta 10
12. Changes in Negative List
Education Services omitted from Negative List
⢠Education services of preschool, higher secondary, recognized degree
courses and certain approved vocational courses found place in negative
list till now. Such services have been proposed to be introduced in
Exemption notification from the date of enactment of Finance Bill. The
move hints at certain more services in education space to be made taxable
soon.
effective from the date of enactment of Finance Bill, 2016]
Budget 2016 CA Gaurav Gupta 12
13. Changes in Negative List
All Services of Government to Business entity made taxable
⢠Earlier only support services (other than renting) when provided by
Government to a business Entity, were liable for payment of Service Tax.
⢠It has thus, been proposed by Finance Bill, 2015, that all services other
than services specified in Section 66D(i) to (ii) when provided by
Government, or a local authority to a business entity be charged to
Service Tax. Accordingly, all services provided by government to a
Business Entity shall hence forth be taxable.
[effective from date to be Notified]
Budget 2016 CA Gaurav Gupta 13
14. Changes in Negative List
Services of transportation of passenger by stage carriage made taxable
⢠Earlier, transportation of passenger by stage carriage was in negative list.
The entry is being deleted. Thus, the various mode of passenger
transportation and their taxability after 01.06.2016 shall be as follows:
[effective from 01.06.2016]
Negative List CA Gaurav Gupta 14
Mode of transportation of passenger by Road Taxability post
01.06.2016
Change in position prior
to 01.06.2016
Transportation of passenger by Non air-conditioned
Contract carriage other than for tourism, conducted tour,
hire or charter
Includes Maxi cab and motor cab
Non - Taxable No Change
Transportation of passenger by air conditioned Contract
carriage
Taxable No Change
Radio Taxi Taxable No Change
Air-conditioned Stage Carriage Taxable Changed from non
taxable
Non Air conditioned Stage carriage Exempt Non taxable
Rent- a-cab Taxable Taxable
15. Changes in Negative List
Transportation of goods from outside India to India made taxable
⢠Services by way of transportation of goods by an aircraft or a
vessel from a place outside India upto the customs station of
clearance in India was in negative list and was thus, non taxable.
Though such services were taxable as per the provisions of Rule
10 of Place of Provision Rules, 2012, however because of
negative list, such transportation was not taxable. Finance Bill
2016 has proposed to delete the entry from negative list.
⢠Accordingly, Service Tax would be payable all Indian ship liners
on such transportation of goods. Also, in case of foreign
shipliners, such tax would be payable by persons importing such
goods. The entry would impact taxability of shipliners, multimodal
Transport operators, CHAs, GSAs etc.
[effective from 01.06.2016]
Budget 2016 CA Gaurav Gupta 15
17. Changes in Exemptions
⢠Exemption in case of services provided by a Senior Advocate
Exemption has been provided in case of service provided by a senior
advocate by way of legal services to a person other than a person
ordinarily carrying out any activity relating to industry, commerce or any
other business or profession vide clause (c) of entry no. 6 of Notification
No. 25/2012 dated 20.06.2012.
[effective from April 1, 2016]
Budget 2016 CA Gaurav Gupta 17
18. ⢠Exemption in case of services provided to an Arbitral Tribunal withdrawn
Services provided by a person represented on an arbitral tribunal to an
arbitral tribunal has now been made taxable by deleting clause (c) of entry
no. 6 of Notification No. 25/2012 dated 20.06.2012.
[effective from April 1, 2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 18
19. Exemption to services provided by the Indian Institute of Management
⢠Services provided by the Indian Institutes of Management (IIM) by way of
2 year full time Post Graduate Programme in Management(PGPM) (other
than executive development programme), admissions to which are made
through Common Admission Test conducted by IIMs, 5 year Integrated
Programme in Management and Fellowship Programme in Management
are being exempted from service tax.
[effective from April 1, 2016]
Exemption to folk artists enhanced
⢠The threshold exemption limit of consideration charged for services
provided by a performing artist in folk or classical art forms of music, dance
or theatre, is being increased from Rs 1 lakh to Rs 1.5 lakh per
performance.
[effective from April 1, 2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 19
20. Exemption to ongoing Government Construction contracts
Services provided to the Government, a local authority or a governmental
authority by way of construction, erection, commissioning, installation, completion,
fitting out, repair, maintenance, renovation, or alteration of â
(a) a civil structure or any other original works meant predominantly for use other
than for commerce, industry, or any other business or profession;
(b) a structure meant predominantly for use as (i) an educational, (ii) a clinical,
or(iii) an art or cultural establishment; or
(c) a residential complex predominantly meant for self-use or the use of their
employees or other persons specified in the
However, exemption will be provided to the contract which had been entered into
prior to 1st March, 2015 and on which appropriate stamp duty, where applicable,
had been paid prior to such date. Further, exemption vide this entry will not be
applicable on or after 1st April, 2020.
[effective from March 1, 2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 20
21. Exemption to services of construction and allied works in low cost housing
projects of Government
Exemption has been provided against services provided by way of
construction, erection, commissioning, installation, completion, fitting out,
repair, maintenance, renovation, or alteration of,
⢠a civil structure or any other original works pertaining to the âIn-situ
rehabilitation of existing slum dwellers using land as a resource through
private participationâ under the Housing for All (Urban) Mission/Pradhan
Mantri Awas Yojana, only for existing slum dwellers
⢠a civil structure or any other original works pertaining to the âBeneficiary-led
individual house construction / enhancement under the Housing for All
(Urban) Mission/Pradhan Mantri Awas Yojanaâ
[effective from March 1, 2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 21
22. Exemption in case of construction activities of monorail or metro withdrawn
⢠Exemption against services by way of construction, erection,
commissioning, or installation of original works pertaining to monorail or
metro has been withdrawn in respect of contracts entered into on or after
1st March 2016. Exemption to Railway contract shall continue.
[effective from March 1, 2016]
Exemption against construction activities of low cost houses:
⢠Exemption has been provided by inserting clause (ca) in entry 14 of
Notification No. 25/2012-Service Tax dated 20.06.2012 to Low cost houses
up to a carpet area of 60 square metres per house in a housing project
approved by the competent authority under:
(i) the âAffordable Housing in Partnershipâ component of the Housing for
All (Urban) Mission/Pradhan Mantri Awas Yojana;
(ii) any housing scheme of a State Government
[effective from March 1, 2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 22
23. Exemption to ongoing construction activities of airport or port:
⢠Exemption is introduced for services by way of construction, erection,
commissioning, installation of original works pertaining to an airport or port
where 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 subject to production of certificate from the Ministry of Civil Aviation or
Ministry of Shipping, as the case may be, that the contract had been
entered into prior to 01.03.2015.
⢠The services provided during the period from 01.04.2015 to 29.02.2016
under such contracts are also proposed to be exempted from service tax
and till 2020.
[effective from March 1, 2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 23
24. Exemption in case of transport of passengers reduced
⢠Exemption has been provided in case of transport of passengers by stage
carriage other than air-conditioned stage carriage by inserting clause (bb)
in entry 23 of Notification No. 25/2012-Service Tax dated 20.06.2012. Thus,
now transportation by air-conditioned Stage carriage has become taxable.
⢠Further, exemption in case of transport of passengers by ropeway, cable
car or aerial tramway has been withdrawn.
[effective from June 1,2016]
Exemption to inward transportation of goods by air
⢠Exemption in case of services by way of transportation of goods by an
aircraft from a place outside India upto the customs station of clearance in
India by inserting new entry no. 53 in Notification No. 25/2012-Service Tax
dated 20.06.2012.
[effective April 1,2016]
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 24
25. New exemptions for services by-
⢠Annuity under the National Pension System
⢠Securities and Exchange Board of India (SEBI)
⢠Employeesâ Provident Fund Organization (EPFO)
⢠Biotechnology incubators approved by Biotechnology Industry Research
Assistance Council (BIRAC).
⢠National Centre for Cold Chain Development
⢠Insurance Regulatory and Development Authority (IRDA) of India.
⢠âNiramayaâ Health Insurance scheme implemented by National Trust
⢠Deen Dayal Upadhyay Grameen Kaushalya Yojana training partners
⢠Assessing bodies empanelled centrally by Directorate General of Training,
Ministry of Skill Development & Entrepreneurship
Changes in Exemptions
Budget 2016 CA Gaurav Gupta 25
27. Changes in Abatements
Changes in abatement in rail transport:
⢠Rate of abatement allowed to transport of goods by rail has been amended
as under:
⢠Further, Cenvat Credit of input services has been allowed in both cases.
Thus, the condition of non-availment of Cenvat Credit on inputs and capital
goods will remain same in both the cases i.e in case of rail transport for
goods as well as for passengers.
[effective April 1,2016]
Particular of services Present rate
of abatement
Amended rate
of abatement
Transport of goods and passengers by Indian
Railways
70% 70%
Transport of goods in containers by a person other
than Indian Railways
70% 60%
Budget 2016 CA Gaurav Gupta 27
28. Changes in Abatements
Reduction of abatement for transport of household goods:
⢠Rate of abatement allowed to GTA for household goods has been amended
as under:
⢠Abatement on transport of used household goods by a Goods Transport
Agency (GTA) is being reduced to 60% without availment of cenvat credit
on inputs, input services and capital goods by the service provider.
[effective April 1,2016]
Particular of services Present rate
of abatement
Amended rate
of abatement
Services of Goods Transport Agency 70% 70%
Services of Goods Transport Agency in relation to
used households goods
70% 60%
Budget 2016 CA Gaurav Gupta 28
29. Changes in Abatements
Introduction of abatement in Chit funds:
⢠Abatement was withdrawn from this services last year. Abatement of 30%
is being reintroduced on the services of foreman to a chit fund under the
Chit Funds Act, 1982 with a condition of non-availment of Cenvat Credit
on inputs, capital goods and input services.
[effective April 1,2016]
Clarification in rent a cab services:
⢠At present, there is abatement of 60% on the gross value of renting of
motor-cab services, provided no cenvat credit has been taken. It is being
made clear by way of inserting an explanation in the notification No.
26/2012-ST that cost of fuel should be included in the consideration
charged for providing renting of motor-cab services for availing the
abatement.
[effective April 1,2016]
Budget 2016 CA Gaurav Gupta 29
30. Changes in Abatements
Abatement in transportation of passenger by stage carriage:
⢠On being made taxable, suitable abatement has also been provided to
transportation of passenger by stage carriage:
⢠At present, abatement of 60% is being provided in case of transport of
passengers by a contract carriage (other than motorcab) and a radio taxi.
Now, the scope of abatement has been extended to a stage carriage with
a uniform condition of non-availment of Cenvat Credit on inputs, capital
goods and input services.
[effective from June 1,2016]
Cenvat of input services allowed in transportation by vessel:
⢠At present, abatement of 70% is being provided in case of transport of
goods in a vessel with a condition of non-availment of Cenvat Credit on
inputs, capital goods and input services. Now, Cenvat credit of input
services is allowed in cases where abatement is availed.
[effective April 1,2016]
Budget 2016 CA Gaurav Gupta 30
31. Changes in Abatements
Reduction of abatement in Tour operator:
⢠Abatement of 90% is being provided to a tour operator if he is merely
arranging or booking accommodation for any person in relation to tour.
Now, abatement has been reduced to 70% for all cases other than those
merely engaged in arranging or booking accommodation and no separate
abatement rate has been specified for a package tour. Now the amended
abatement stands as under:
[effective April 1,2016]
Particular of services Present rate of
abatement
Amended rate
of abatement
services solely of arranging or booking
accommodation for any person in relation to a tour
90% 90%
Services in relation to Package Tours 75% 70%
Other Tours 60% 70%
Budget 2016 CA Gaurav Gupta 31
32. Changes in Abatements
Reduction of abatement in Construction Sector:
⢠A uniform abatement of 70% is now being prescribed for services of
construction of complex, building, civil structure, or a part thereof, subject to
fulfillment of the existing conditions. Thus, the beneficial rate of 75% is no
longer applicable. The new rates are as under:
[effective April 1,2016]
Particular of services Present rate
of abatement
Amended rate
of abatement
Construction of a complex, building, civil structure
or a part thereof, intended for a sale to a buyer,
wholly or partly except where entire consideration
is received after issuance of completion certificate
by the competent authority
75% / 70% 70%
Budget 2016 CA Gaurav Gupta 32
34. Changes in Reverse
Charge Mechanism
Reverse Charge removed from Services of Mutual Fund Agent or Distributor:
⢠Services provided by mutual fund agents/distributor to a mutual fund or
asset management company was earlier put under reverse charge liability,
i.e., the Asset Management Company was made liable to pay service tax
for the services received from such agents/distributors. Now, these services
are being put under forward charge and therefore, mutual fund
agents/distributors will discharge their service tax liabilities and asset
management companies shall no longer be liable to discharge such tax
under reverse charge.
[effective from April 1, 2016]
Budget 2016 CA Gaurav Gupta 34
35. Changes in Reverse
Charge Mechanism
Services of Lottery agents:
⢠At present, services provided by a selling or marketing agent of lottery
tickets to lottery distributor or selling agent are under reverse charge
mechanism. Now, reverse charge will be applicable only when these
services are provided to a lottery distributor or selling agent of the State
Government under the provisions of the Lottery (Regulations) Act, 1998 (17
of 1998). In other cases, the charge shall be forward charge and on the
provider of services.
[effective from April 1, 2016]
Budget 2016 CA Gaurav Gupta 35
36. Changes in Reverse
Charge Mechanism
Services of Senior Advocate:
⢠Legal services provided by an advocate are under reverse charge
mechanism. However, legal services provided by a senior advocate are
removed from reverse charge and are being put under forward charge.
Therefore, service tax liability on legal services will now be discharged by
senior Advocates itself.
[effective from April 1, 2016]
Budget 2016 CA Gaurav Gupta 36
37. Changes in Reverse
Charge Mechanism
Services of Government:
⢠At present, support services provided by Government or local authorities to
business entities are taxable under reverse charge mechanism that is the
liability to pay service tax on such services is on the service recipient. With
effect from 1st April, 2016, any service (and not only support services)
provided by Government or local authorities to business entities shall be on
the service recipient on reverse charge basis.
[effective from April 1, 2016]
Budget 2016 CA Gaurav Gupta 37
39. Changes in Service Tax
Rules
One Person Company and HUF to pay tax quarterly:
⢠One Person Company (OPC) has been given
benefits similar to a proprietorship firm for tax
payment. The benefits of:
(a) quarterly payment of service tax; and
(b) payment of service tax on receipt basis,
which are available to individual and
partnership firms,
are being extended to OPC whose aggregate
value of services provided is up to Rs. 50 lakh in
the previous financial year.
⢠In case of HUF, the periodicity of payment of
Service Tax has been made to quarterly in place of
monthly as at present.
Budget 2016 CA Gaurav Gupta 39
40. Changes in Service Tax
Rules
Service Tax on single premium policy rationalized
⢠Rule 7A of Service Tax Rules, 1994 is being
amended to rationalize service tax liability on
single premium annuity (insurance) policies.
The effective alternate service tax rate
(composition rate) is being prescribed at 1.4%
of the total premium charged, in cases where
the amount allocated for investment or savings
on behalf of policy holder is not intimated to the
policy holder at the time of providing of service.
Earlier the rate of Service Tax on such policies
was 3.5% in first year and 7.75% in subsequent
years.
Budget 2016 CA Gaurav Gupta 40
41. Changes in Service Tax
Rules
Filing of Annual Service Tax Return introduced
⢠Rule 7 of Service Tax Rules, 1994 is being amended to introduce annual
return in Service Tax. All assesses other than those notified by CBEC, shall
be required to file an annual return for the financial year to which the return
relates, in such form and manner as may be specified by CBEC, by the
30th day of November of the succeeding financial year. Such return can be
revised within a period of one month from the date of submission. Also,
penalty for delay of filing such return has been provided at the rate of one
hundred rupees per day for the period of delay in filing of such return,
subject to a maximum of twenty thousand rupees. It is pertinent to mention
that no change has been proposed in Limitation Section to rule out the
possibility of computing limitation from the date of annual return.
Budget 2016 CA Gaurav Gupta 41
43. Changes in Cenvat Credit
Rules
Changes in Cenvat Credit Rules
⢠Annual Return introduced
⢠Cenvat credit against transportation outside India allowed
⢠Input to include below 10000 Capital goods
⢠Cenvat credit can be availed on goods sent directly to job worker
⢠Special Rule for rights granted by Government
⢠Changes in Rule 6
⢠Changes in Input Service Distributor- primarily relating to
outsourced manufacturing units
⢠Sequence for availing Cenvat credit deleted
Budget 2016 CA Gaurav Gupta 43
44. Frequency rights by
government
Provision of frequency rights by government added to declared services
[effective from the date of enactment of Finance Bill, 2016]
⢠Declared services list is amended to include assignment by the
Government of the right to use the radio-frequency spectrum and
subsequent transfers thereof so as to make it clear that assignment by
Government of the right to use the spectrum as well as subsequent
transfers of assignment of such right to use is a service leviable to service
tax and not sale of intangible goods. It is important to note that though
deemed sale covered under Article 366(29A) is excluded from the definition
of service, can such a deeming fiction bring a deemed sale intro the ambit
of service.
⢠A temporary transfer of license is outside the ambit of âsaleâ and falls within
the ambit of service. Similar decision was held in the case of GS
Entertainment Private Ltd., v. Union of India (Madras High Court). The
question which would arise not is whether such levy is covered under Entry
54 of List II and whether it amounts to transgression by Parliament into the
exclusive domain of the State?
Budget 2016 CA Gaurav Gupta 44
45. Changes to sustain levy of rate
change as per Point of Taxation
Changes to sustain levy of rate change as per Point of Taxation
⢠Sub section (2) has been inserted in Section 67A of Finance Act, 1994 to
sustain levy of Service Tax in case of rate change and new levy. It is
pertinent to note that a new levy like Swachh Bharat Cess is not covered
vide provisions of POTR. They are still guided by Section 66B read with
Section 67A. Thus, in order to bring such rate change within the ambit of
POTR. Accordingly, amendment has been brought in Act to sustain
imposition of tax on such levies. Also, an Explanation is being inserted in
Rule 5 stating that the same is applicable in case of new levy on services.
The new levy â KKC (0.5%) shall now be guided by Rule 5 of POTR.
[effective from date of enactment of Finance Bill, 2016]
Budget 2016 CA Gaurav Gupta 45
46. Period Limitation
increased to 30 months
Period Limitation increased to 30 months
⢠The limitation period for recovery of service tax not levied or paid or
shortlevied or short paid or erroneously refunded, for cases not involving
fraud, collusion, suppression etc. is proposed to be enhanced by one year,
that is, from eighteen months to thirty months by making suitable changes
to section 73 of the Finance Act, 1994. The period of limitation in case of
fraud, collusion, suppression etc remains five years. However, this
increase has reduced the gap between the two cases and thus, this
disincentives an honest tax payers as he shall remain under scrutiny for
longer.
[effective from date of enactment of Finance Bill, 2016]
Budget 2016 CA Gaurav Gupta 46
47. Higher rate of Interest on Person who
has collected Service Tax but not
deposited
Higher rate of Interest on person who has collected Service Tax but not
deposited
⢠Section 75 of the Finance Act is proposed to be amended so that a higher
rate of interest would apply to a person who has collected the amount of
service tax from the service recipient but not deposited the same with the
Central Government. The rate is proposed to be kept at 24% which shall be
higher than normal rate of interest to penalize genuine tax payer.
[effective from date of enactment of Finance Bill, 2016]
Budget 2016 CA Gaurav Gupta 47
48. Disclaimer
This presentation has been prepared for internal use of ICAI and its members. The contents of this document are
solely for informational purpose. It does not constitute professional advice or a formal recommendation. The
presentation is made with utmost professional caution but in no manner guarantees the content for use by any
person. It is suggested to go through original statute / notification / circular / pronouncements before relying on the
matter given. The presentation is meant for general guidance and no responsibility for loss arising to any person
acting or refraining from acting as a result of any material contained in this presentation will be accepted by us.
Professional advice recommended to be sought before any action or refrainment.
CA Gaurav Gupta
Partner
MGS & Co.
507 B, D-Mall, Netaji Subhash Palace, Delhi - 110034
+91 11 32962487
+91 11 2735 2487
+91 98110 13940
cagauravmgs@gmail.com
Thank you