In Budget 2016, the Finance Minister proposed certain changes to the existing negative list i.e. a list of such services which are exempt from service tax. Let us look at these proposals in brief. As per Section 66D(l), services by way of : (i) pre-school education and education up to higher secondary school or equivalent; … Read more
Section 66D of Finance Act, 1994 provides the Negative list of services. Certain amendments have been made in negative list of services in Union Budget 2015-16. These amendments will be effective from date of notification in the Official Gazette. Let us go through these amendments in brief. 1. Section 66D(a) provides for services provided by … Read more
In Union Budget 2014-15, certain amendments were proposed in the negative list and Service Tax Rules. These amendments were to come into force on when the Finance Act was enacted. Let us look at these amendments. 1. Services provided by radio taxis : As per Section 66D(o)(vi) of Finance Act, 1994, “metered cabs, radio taxis … Read more
After the recent amendments in service tax laws, we have quite often come across the words “Negative List”. Simply put, a negative list of services means a list of services which will not be charged to service tax. This also means that, all other services, other than those mentioned in the negative list will be taxable. (For latest amendment of … Read more