Rice is not an agricultural produce
This query is : Resolved
Vikas Prajapati
(Querist)
17 February 2017
Why rice is not an agricultural produce?
Saji Mathew
(Expert)
17 February 2017
Section 65B(5) of the Finance Act, 2012, had excluded certain commodities including Rice from the earlier definition of agricultural produce, in their understanding Rice as an agricultural product continued to be exempt from the levy of Service Tax. However, they also indicated that they had sought a clarification from their Administrative Ministry and the Ministry of Finance on the correctness of their interpretation. -
17 February 2017
Rice is harvested from paddy and is hence not a direct agricultural produce.
17 February 2017
But processing/ milling of rice from paddy on job work basis is exempt from service tax levy vide Entry 30 of Mega Exemption Notification.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
