12 June 2012
I would like to know the implication of Negative list in nutshell.
My query is whether the services specified in clause (105) of section 65 will be referred only after qualifying the negative list OR first sec 65 and then negative list.
Does services specified in clause (105) of section 65 loses its importance....!
12 June 2012
Section 65 will not exist. After 30.06.2012. There is no list as of now everything done for a consideration by a person for another person would be taxable unless exempt or falls under negative list
13 June 2012
Section 65 shall not apply w.e.f 1/6/2012 vide notification 18/2012 dated 1/6/2012. All services except those contained in -ve list(sec 66D) and declared services (sec 66E)are liable for ST. Notification 19/2012 dated 5/6/2012 may be further referred to.
13 June 2012
The following section will be ineffective from 1.7.2012.
Section 65 - Definition of Taxable Service, Section 65 A - Classification of Taxable Service, Section 66 - Charge of section Tax, Section 66A- Charge of Service Tax on Services received from outside India.
The following new Section have been inserted for governing Service Tax Legislation
Section 65B - Definitition of Service Tax, Section 66B _ Chanrge of Service Tax, Section 66C - Determination of place of provision of service. Section 66D - Negitive List of Services Section 66 E - Declared Services Section 66F- Principles of interpretation of Specified description of services or bundled services Further new service has been added in reverse charge of service tax vide notification 15/2012 applicable from 01.07.2012.
SO the provisions of Service Tax upto 30.6.2012 are replaced by by inserting new sections and the same are paased in parliament and has become Act as parliament has enacted the Finace Bill 2012.
13 June 2012
The following section will be ineffective from 1.7.2012.
Section 65 - Definition of Taxable Service, Section 65 A - Classification of Taxable Service, Section 66 - Charge of section Tax, Section 66A- Charge of Service Tax on Services received from outside India.
The following new Section have been inserted for governing Service Tax Legislation
Section 65B - Definitition of Service Tax, Section 66B _ Chanrge of Service Tax, Section 66C - Determination of place of provision of service. Section 66D - Negitive List of Services Section 66 E - Declared Services Section 66F- Principles of interpretation of Specified description of services or bundled services Further new service has been added in reverse charge of service tax vide notification 15/2012 applicable from 01.07.2012.
SO the provisions of Service Tax upto 30.6.2012 are replaced by by inserting new sections and the same are paased in parliament and has become Act as parliament has enacted the Finace Bill 2012.
CAclubindia
