Exempt service vs negative list

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CA Gyati Gupta

CA Gyati Gupta (Querist)
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30 August 2013 What is the diff b/w exempt services and services covered under negative list ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 August 2013 The difference is that services in negative list are not at all taxable as they have been excluded from the meaning of ‘service’ itself u/s 66B. Negative list contained in section 66D. As against this, exempted services are services by itself, but exempt from levy of Service Tax by way of Notification issued by the Central Government. . Also, amendments to negative list can be made only by Parliament by way of amendment to the Finance Act whereas exemptions could be enlarged or curtailed on the basis of notification.

CA Gyati Gupta

CA Gyati Gupta (Querist)
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05 September 2013 thank you sir

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