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I am confused in the difference between Negative List (66D) and Mega Exemption Notifications 25/2015 that when to say that particular service is exempted and the treatment for the same
If possible please try to give an example
Thank You
Replies (2)
the services mentioned under negative list are non taxable service which means they are out of coverage of service tax. Under this 17 services have been mentioned and any change in this list can be done only through amendment in finance Act 1994
Under this services mentioned are taxable, but exemption is provided through notification 25/2012. Under this 39 services have been mentioned and any change can be done through Notification.
Thank You for clearing my concept thoroughly
Thanks
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