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                                 Finance Act 2010

New services on which we can take input credits:-

1.  Commercial User Or Exploitation Of Any Event

2. Copyright Services

3. Electricity Exchange Services

4. Health Services

5. Maintenance Or Medical Records

6. Promotion Of Brand Of GoodsServices, Events, BusinessEntity

7. Promotion, Marketing Or Organization Of Games Of Change including Lottery

8. Provision Of Preferential Location Or External Or Internal Development Of Complexes

 

1 Commercial User Or Exploitation Of Any Event.

  Taxable service means any service provided or to be provided to any person, by granting the right or by permitting commercial use or exploitation of any event including an event relating to art,entertainment,business,sports or marriage organized by such other person

2. . Copyright Services

   Services provided or to be provided to any person, by any other person for :- (a) transferring temporarily or permitting the use or enjoyment of, any copy right defined in the copyright Act,1957.

3. Electricity Exchange Services

   Taxable event means any service provided or to be provided to any person, by an electricity exchange, by whatever name called, approved by the Central Electricity Regulatory Commission constituted under section 76 of the Electricity Act,2003, in relation to trading, processing, clearing or settlement of spot contracts, term ahead contracts, derivatives or any electricity related contract

4. Health Services

Taxable event means services provided or to be provided for health check-up by hospitals  or medical establishments for the employees of business entities or health services provided under health insurance schemes offered by insurance companies

5.   Maintenance Or Medical Records

  Taxable service means any service provided  or to be provided  to any business entity , by any other person, in relation to storing, keeping or maintaining of medical records of employees of a business entity

6. Promotion Of Brand Of Goods Services, Events, Business Entity

   Taxable event means any service provided or to be provided to any person , through a business entity or otherwise, under a contract for promotion or marketing of a brand of goods , service, event or endorsement of name , including a trade mark of a business entity by appearing in advertisement and promotional event  or carrying out any promotional activity for such goods, service or event

 

For this purpose the term Brand means symbol, monogram, label, signature or invented words which indicate connection with the said goods, service, event or business entity


, 7. Promotion Marketing or Organization of Games of Change including Lottery

  Taxable event means any service provided or to be provided to any person, for promotion, marketing, organizing or in any other manner assisting in  organizing games of chance, including lottery, Bingo or Lotto in whatever form or by whatever name called , whether or not conducted through internet or other electronic networks

 

8. Provision Of Preferential Location Or External Or Internal Development Of Complexes

   Taxable service means any service provided or to be provided to a buyer , by a building of a residential complex , or any other person  authorized by such builder, for providing preferential location or development  of such complex.

For this purpose  the term Preferential location means any location having extra advantage  which attracts extra payment over and above the basic sale price.

There is no change in service tax rate of 10.30%




Category Service Tax, Other Articles by - C.A.SOMDEB BHATTACHARYA 



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