meaning of the sentence

2 does sales spares made equal to labour service provided is exempt from tax of authorised dealer  

   exa:spares bill equal to 3000, labour bill equal to 2000 in total 5000.i hope exemption is available

up to 4000 they are liable only to the extent of four thousand

             
 (volume of goods equal to volume services is exempt from tax)        

Replies (2)
Hello there As per section 65 (90a) of Chapter V of Finance Act 1994 renting of immovable property to an educational body, imparting skill or knowledge or lessons on any subject or field, other than a commercial training or coaching centre is not chargeable to service tax. I want to know what it means by "Educational Body". Are private schools and colloges and playschools for small kids which are not dependent on Govt. funding are educational body within the meaning of this section.

Under Notification 12/2003, value of gods sold by the service provider to the services receiver is exempted. Thus, for computation of value os services, the value of goods sold is to be excluded.

 

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