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service tax rates (Service Tax)

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This query is : Resolved


( Author )
24 June 2008

can anyone provide with a table of services that come under the ambit of service tax along with their applicable rates for FY 2008-09?


CA Vivek Jain

( Expert )
24 June 2008

SERVICE TAX
BASIC EXEMPTION LIMIT RAISED TO RS. 1000000/- FROM RS. 800000/-
SERVICE TAX DISPUTE RESOLUTION SCHEME, 2008 w.e.f. 1st day of July, 2008

SECTIONWISE MAJOR CHANGES

65 (7b) Definition with effect from such date as theCentral Government may, bynotification in the OfficialGazette, appointassociated enterprise” has the meaningassigned to it in section 92A of the IncometaxAct, 1961;

65 (12)(a)(iv) banking and other financial services” means -securities and foreign exchange (forex) broking,and purchase or sale of foreigncurrency, including money changing


65 (12) (b) New Clause:foreign exchange broking and purchase or saleof foreign currency, including moneychanging provided by a foreign exchange brokeror an authorised dealer in foreign exchangeor an authorised money changer, other than those covered under sub-clause (a)‘Explanation.— For the purposes of this clause,it is hereby declared that “purchase or sale offoreign currency, including money changing”includes purchase or sale of foreign currency,whether or not the consideration for suchpurchase or sale, as the case may be, isspecified separately

65 (19)(ii) service in relation to promotion or marketing ofservice provided by the client” includes anyservice provided in relation to promotion ormarketing of games of chance, organised,conducted or promoted by the client, in whateverform or by whatever name called, whether or notconducted online, including lottery, lotto, bingo

65 (23) Cargo handling service” means loading,unloading, packing or unpacking of cargoand includes,—(a) cargo handling services provided for freightin special containers or for noncontainerisedfreight, services provided by a container freightterminal or any other freight terminal, for allmodes of transport, and cargo handling serviceincidental to freight; and (b) service of packing together withtransportation of cargo orgoods, with or without one or more of other services like loading,unloading, unpacking, but does not include,handling of export cargo or passenger baggageor mere transportation of goods;

65(53a) “information technology software” means anyrepresentation of instructions, data, sound orimage,including source code and object code,recorded in a machine readable form, andcapable of being manipulated or providinginteractivity to a user, by means of a computeror an automatic data processing machine or anyother device or equipment

65(57a) New Clause:“internet telecommunication service defined”
.
65(86d) New Clause:processing and clearing house defined

65 (90a) New Explanation:renting of immovable property” includes allowingor permitting the use of space in an immovableproperty, irrespective of the transfer ofpossession or control of the said immovableproperty

.105(g) "taxable service" New clause:to any person, by a consulting engineer inrelation to advice, consultancy or technicalassistance in any manner in one or moredisciplines of engineering including the disciplineof computer hardware engineering.

105(zzk) New clause:to any person, by a foreign exchange broker,including an authorised dealer in foreign
exchange or an authorised money changer,other than a banking company or a financialinstitution including a non-banking financialcompany or any other body corporate orcommercial concern referred to in sub-clause

105(zzzu) in sub-clause (zzzu), for the words “internet telephony”, the words “internet telecommunication service” shall be substituted

105(zzzze) New Clause:to any person, by any other person in relation toinformation technology software for use in thecourse, or furtherance, of business or ommerce,including,—(i) development of information technologysoftware, (ii) study, analysis, design andprogramming of information technologysoftware,(iii) adaptation, upgradation, enhancement,implementation and other similar servicesrelated to information technology software,(iv) providing advice, consultancy andassistance on matters related to informationtechnology software, including conductingfeasibility studies on implementation of asystem, specifications for a database design,guidance and assistance during the startupphase of a new system, specifications to securea database, advice on proprietary informationtechnology software,(v) acquiring theright to use informationtechnology software for commercial exploitationincluding right to reproduce, distribute and sellinformation technology software and right to usesoftware components for the creation ofandinclusion in other information technologysoftware products,(vi) acquiring the right to use informationtechnology software supplied electronically;

105(zzzzf) New Clause:to a policy holder, by an insurer carrying on lifeinsurance business, in relation to managementof investment, under unit linked insurancebusiness, commonly known as Unit LinkedInsurance Plan (ULIP) scheme.

105(zzzzg) New Clause:
to any person, by a recognised stock exchangein relation to assisting, regulating or controllingthe business of buying, selling or dealing insecurities and includes services provided inrelation to trading, processing,clearing andsettlement of transactions in securities;

105(zzzzh) New Clause:to any person, by a recognised association or aregistered association in relation to assisting,regulating or controlling the business of the saleor purchase of any goods or forward contractsand includes services provided in relation totrading, processing, clearing and settlement oftransactions in goods or forward contracts

105(zzzzi) New Clause:to any person, by a processing andclearinghouse in relation to processing, clearingand settlement of transactions in securities,goods or forward contracts including any othermatter incidental to, or connected with, suchsecurities, goods and forward contracts;

105(zzzzj) New Clause:to any person, by any other person in relation tosupply of tangible goods including machinery,equipment and appliances for use, withouttransferring right of possession and effectivecontrol of such machinery, equipment andappliances

106 technical testing andanalysisafter the words ‘‘goods or material or’’, the words“information technology software or” shall beinserted;

108 technical inspection andcertificationfor the words ‘‘process or material’’, at both theplaces where they occur, the words ‘‘process ormaterial or information technology software’’shall be substituted

109a “telecommunication service” for the words “internet telephony”, the words“internet telecommunicationservice” shall besubstituted;

115 “travel agent” New Clause:“tour operator” means any person engaged inthe business of planning, scheduling,organising or arranging tours (which may includearrangements for accommodation, sightseeingor other similar services) by any mode oftransport, and includes any person engaged inthe business of operating tours in a touristvehicle or a contract carriage by whatever namecalled, covered by a permit, other than a stagecarriage permit, granted under the MotorVehicles Act, 1988 or the rules madethereunder.

67 in the Explanation, in clause (c), for the words“book adjustment.”, the following words shall besubstituted, namely:—‘book adjustment, and any amount credited ordebited, as the case may be, to any account,whether called “Suspense account” or by anyother name, in the books of account of a personliable to pay service tax, where the transactionof taxable service is with any associatedenterprise

71 Scheme for submissionof Returns through ServiceTax Preparers.New Scheme

72 Best judgment assessment New

77 Penalty for contravention ofany provision for which no
penalty is provided New and detailed section shall be substituted:


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