Query

Originally posted by : hritik
	in service tax,wat is d differnce between negative list and mega exemption notification??

From the point of view of taxation, there is no difference between a service listed in negative list and a service finding place in mega exemption notification.
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The only difference is that services in negative list are not at all taxable as they have been excluded from the meaning of ‘service’ itself. As against this, exempted services are services by itself, but exempt from levy of Service Tax by way of Notification issued by the Central Government.
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Also, amendments to negative list can be made only by Parliament by way of amendment to the Finance Act, 1994 whereas exemptions could be enlarged or curtailed on the basis of notification.

Negative list-are not cosidered as service.

exempted- are services but are exempt from levy of service tax for time specified.

Originally posted by : hritik
	thnqu so much sir..one more query can u help me... wat is d diff between managerial training nd practical training in CS

Students who got exemption on the basis of working experience from undergoing 12 months or more training under various provisions of the Company Secretaries Regulations, 1982 (as amended from time to time) are required to undergo balance training of 03 months or less period in Administration/Secretarial/Finance & Accounts department for one month each is termed as Practical Training.
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While the students who neither claim nor been granted exemption from undergoing training are required to undergo 15 months Management/ Apprenticeship Training.
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https://www.icsi.edu/WebModules/LinksOfWeeks/FAQ-Training.pdf