While proposing increase of service tax from the present 10% to 12% in the Union Budget 2012-13, the Finance Minister has proposed exemption of some services from levying of service Tax. The details of such services exempted from levying of 12% increased service Tax are included in the Negative list of Services. At present, the service tax is levied on the basis of a positive list, meaning that the tax is levied on the specified services only.
According to the negative list, postal services, including Speed Post provided by the Department of Post, will not attract service tax.
Other important services, which will not attract the tax, include funeral, burial, mutate services and transport of deceased, Metered taxis, entry to amusement facilities, second-class rail travel, betting, gambling, lottery, travel by radio taxis and auto rickshaw, Distribution of electricity, trading of goods, agriculture extension and support services, road tolls, renting of residential properties and services relating to bank deposits and sanction of loans.
As regards education, the service tax will not be levied on school, university education and approved vocational courses.The coaching classes and training institutions, however, will continue to be subject to the service tax.As regards sale and purchase of foreign currency, it has been clarified that such activity among the banks and dealers will be kept out of the service tax net. However, by implication, the sale of foreign currency by dealers to individuals will attract the levy.
In order to bring as many services as possible in the net, the government has come out with a wide definition of service. With some exception, it has been defined serviceas “any activity carried out by a person for consideration.''. In addition to the existing services, which are subject to the service tax, the negative list clarified that the tax will be levied on travel by first class and in air-conditioned rail coaches, transport of goods by a transportation and courier agencies .
The date for operation of the negative list, according to the budget papers, will be notified later.
The G600 should be able to handle the vigorous clicking required by some gamers to make
ReplyDeletesure their Fireball begins casting the very instant the spell comes off of cooldown. In exchange for the
monthly fee, you get access to all of the game content (classes,
zones, items, etc. It's simple: the real-world cash rewards are incredible.
Also visit my blog post; Dayz Hacks
I'll right away seize your rss as I can't in finding your email subscription hyperlink or e-newsletter service.
ReplyDeleteDo you've any? Please permit me know in order that I
may just subscribe. Thanks.
my website; skin whitening cream ()