At present there are 17 items in the negative list (Section 66 D of the Finance Act, 1994) and 39 items in the mega exemption notification 25/2012-ST dated 20.6.2012. Government has recently exempted more services from the purview of service tax. They are:
Transport of goods by inland waterways, copyrights for cinematography, vocational education courses by institutes affiliated to the National Skill Development Corporation, hiring of buses to state transport authority, erection and commissioning of water supply, sale of space for advertisement on internet, hoardings, services by specified intermediaries, transportation of import cargo and specified schemes of insurance (all services exempted vide exercise of powers under Section 93 (1) of Finance Act, 1994, are now consolidated in Notification 25/2012-ST dated 20 June, 2012).
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