Example: stock market

Taxation of Services: An Education Guide - Home Page of ...

Taxation of Services: An Education GuideJune 20, 2012 TAX RESEARCH UNITC entral Board of Excise & Customs,Department of Revenue, Ministry of FinanceGovernment of IndiaNew GoelSpecial Secretary&ChairmanHkkjr ljdkjGOVERNMENT OF INDIAfo k ea=ky; @ jktLo foHkkxMINISTRY OF FINANCE/DEPARTMENT OF REVENUEdsU h; mRikn ,oa lhek 'kqYd cksMZCENTRAL BOARD OF EXCISE & CUSTOMSukFkZ Cykd] ubZ fnYyh&110 001 NORTH BLOCK, NEW DELHI-110 001 Tel. No. +91-11-23092849, Fax No.: +91-11-23092890vPrefaceI write this on behalf of a number of persons collectively addressed as We : the TeamTRU, other officials of the Department as well as elsewhere, academicians, innumerable tax-payers, tax advisors, business entities and representatives from the chambers of trade andindustry and professional comprehensive Taxation of services , that appeared a

Taxation of Services: An Education Guide June 20, 2012 TAX RESEARCH UNIT Central Board of Excise & Customs, Department of Revenue, Ministry of Finance

Tags:

  Services, Guide, Education, Taxation, Taxation of services, An education guide

Information

Domain:

Source:

Link to this page:

Please notify us if you found a problem with this document:

Other abuse

Transcription of Taxation of Services: An Education Guide - Home Page of ...

1 Taxation of Services: An Education GuideJune 20, 2012 TAX RESEARCH UNITC entral Board of Excise & Customs,Department of Revenue, Ministry of FinanceGovernment of IndiaNew GoelSpecial Secretary&ChairmanHkkjr ljdkjGOVERNMENT OF INDIAfo k ea=ky; @ jktLo foHkkxMINISTRY OF FINANCE/DEPARTMENT OF REVENUEdsU h; mRikn ,oa lhek 'kqYd cksMZCENTRAL BOARD OF EXCISE & CUSTOMSukFkZ Cykd] ubZ fnYyh&110 001 NORTH BLOCK, NEW DELHI-110 001 Tel. No. +91-11-23092849, Fax No.: +91-11-23092890vPrefaceI write this on behalf of a number of persons collectively addressed as We.

2 The TeamTRU, other officials of the Department as well as elsewhere, academicians, innumerable tax-payers, tax advisors, business entities and representatives from the chambers of trade andindustry and professional comprehensive Taxation of services , that appeared a pipedream less than a yearback, is now ready to be perhaps the most transparent exercises in Indian budget making, the idea of theNegative List originated in the first concept paper in August, 2011. This was fiercely debatedby all, some understandably cautious or even skeptical, a few ruthlessly opposed, while alarge majority displayed the foresight to look at the larger canvas; all making many was evident that we were measuring up to the challenge of remote budget-makingentrusted to us.

3 But we knew we had to do some more work. Despite the Negative List beingoperational in most parts of the world, we had to address our own uniqueness and in our the level of confidence and trust that we had won, it was natural that we were keptin the picture and informed which of our suggestions were accepted and which were not. Therevised concept paper followed in November. We realized that the government was seriouswith this piece of progressive reform. We had to be likewise. Once again we tried our best tocritique and comment on various the Budget announcements came in March, it was no shock or surprise.

4 It waslargely an affirmation of what we had known all along. We could see our collective efforts Department was also becoming far more reliant in entrusting us the responsibilityof reading two rather lengthy draft guidance papers, trying to explain the whole concept andseeking our inputs so that very little was left for experimentation through litigation on seminars organized by various chambers and professional institutes werevery illuminating with the CBEC also breaking tradition by holding its own seminar for businessin Delhi immediately after the budget followed by a well-attended seminar at its academy forthe officers.

5 Not to rest on that laurel alone, CBEC further reinforced learning and doubt-clearing with seminars in Delhi, Ahmedabad, Kolkata, and Chennai in June (Mumbai to followsoon), collaborating with industry associations and professional bodies and making it now the final packaged version is before us on June 20, 2012 ready to beoperationalised from July 1, head of the family: the Hon ble Finance Minister of India, who has personallysupported this entire initiative, guiding it intellectually and in all other possible ways, has veryreadily and graciously agreed to find time, out of his most busy schedule, to release the finalversion of this Educational Guide , indigenously produced and directed by We: The TeamNegative List.

6 (V. K. Garg)Joint Secretary(TRU)e-mail: 20th June, 2012viiTAXATION OF services : AN Education GUIDEINDEXGUIDANCESUBJECT MATTERPAGE is Service? of List of of Provision of of List of Services133A-2 The Place of Provision of services Rules, 2012135A-3 Exemptions under Mega Notification141ixINDEX OF CONTENTS UPTO TWO DIGIT HEADINGSPOINTSUBJECT MATTERPAGE is the aim of this Guide ? is the key to using this Guide ? is the broad scheme of new Taxation ? is Service? for a a person for specified in the declared list are to be taxable should not constitute only a14transfer in title of goods or immovable property byway of sale, gift or in any other to be taxable should not constitute merely19a transfer, delivery or supply of goods which is deemedto be a sale of goods within the meaning of clause (29A)of article 366 of the only in money or actionable claims do not21constitute of service by an employee to the employer23is outside the ambit of to the definition of service.

7 24xPOINTSUBJECT MATTERPAGE of or agreed to be in the taxable should not be specified in the negative Questions relating to taxability of List of provided by Government or local provided by Reserve Bank of by a foreign diplomatic mission located in relating to agriculture or agricultural of amounting to manufacture or production of space or time slots for advertisements other than35advertisements broadcast by radio or to a road or a bridge on payment of toll , gambling or to entertainment events and access to37amusement or distribution of services relating to by way of renting of residential dwelling for use41as MATTERPAGE relating to transportation of relating to transportation of , burial.

8 Crematorium or mortuary services49including transportation of the of Provision of Rule- Rule 3- Location of the 4- Performance based 5- Location of Immovable 6- services relating to 7- Part performance of a service at different 8- services where the Provider as well as Receiver65are located in Taxable 9- Specified services - Place of provision is65location of the service 10- Place of Provision of a service of transportation69of 11- Passenger Transportation 12- services provided on board 13- Power to notify services or 14- Order of application of of immovable MATTERPAGE of a complex, building, civil structure or a81part thereof, including a complex or building intended forsale to a buyer, wholly or partly, except where the entireconsideration is received after issuance of certificateof completion by a competent transfer or permitting the use or enjoyment85of any intellectual property , design, programming, customization,85adaptation, upgradation, enhancement.

9 Implementationof information technology in relation to delivery of goods on hire purchase88or any system of payment by of goods by way of hiring, leasing, licensing or90any such manner without transfer of right to use such to the obligation to refrain from an act, or to92tolerate an act or a situation, or to do an portion in execution of a works portion in an activity wherein goods, being food94or any other article of human consumption or any drink(whether or not intoxicating) is supplied in any manneras part of the services provided to all international organizations95exempt from service tax?

10 Care provided to or by a governmental or arbitral tribunals99xiiiPOINTSUBJECT MATTERPAGE coaching or Scheme of of service portion in execution of a of value of service in relation to of service portion involved in supply of food or115any other article of human consumption or any drink in arestaurant or as outdoor or exclusion from value of certain expenditure or117costs borne by the service in which commission, costs etc received by the118service provider will be included or schemes for determination of value under120the Service Tax Rules, abatements for determining the taxable responsible for determining the value of124taxable of for interpretation of specified descriptions125of of bundled services .


Related search queries