Nagative list
This query is : Resolved
CA Nikhil Jhanwar
(Querist)
07 May 2012
What is the logic behind having two different lists one for Negative List under Section 66D and other exempted list by way of Notification No. 12/2012 dated 16.03.2012
Guest
Guest
(Expert)
08 May 2012
Negative list as introduced in budget 2012 implies that services other than those in the list are taxable.
The govt can exempt some of the services which are not in the negative list. vide releasing the exempted list
The govt can exempt some of the services which are not in the negative list. vide releasing the exempted list
CA Nikhil Jhanwar
(Querist)
08 May 2012
That I know..... My query is why there is need for two separate lists, cant there be a single list. Because the purpose of both the lists is same so how they would have classificed certain activites suitable for negative list and exempted list.
OPne reason I think is that whereas negative list exempts the whole service but exempted list exempts certain nature of particular service.
OPne reason I think is that whereas negative list exempts the whole service but exempted list exempts certain nature of particular service.
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