Rate of Service Tax / Exemption from Service Tax
(w.e.f. 17-3-2012 or w.e.f. 1-4-2012)
(Notifications as amended available on www.taxmanagementindia.com)
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Sr. No.
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Particulars
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Old Provisions
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New Provisions
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Effective Date
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1.
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Common facility set-up for treatment and recycling of effluents and solid waste with financial assistance from the central or state government.
ST ntf. 1/2012 amends ntf 42/2011
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Only dying unit’s club or association were eligible
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All club or association are eligible
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17-3-2012
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2.
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Effective Rate of Service Tax
ST nft. 2/2012 rescinds nft. 8/2009
|
10%
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12%
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1-4-2012
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3.
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Exemption upto Rs. 10 Lacs in case small service provider – amends the term “Aggregate value” instead of “aggregate value not exceeding ten lakh rupees”
Nft. 5/2012 amends nft. 6/2005
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Changes corresponding to POT Rules, 2011
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1-4-2012
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4.
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Exemption in relation to air passenger transport
Nft. 6/2012 supersedes nft. 26/2012
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Economy class
within India – maximum Rs. 150
Outgoing international – maximum Rs. 750
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All Class
Exemption 60%
Levy of ST on 40%
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1-4-2012
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5.
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Rail Transport
Notification no. 7/2012, 8/2012 & 9/2012
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Exemption extended upto July 1, 2012
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-
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6.
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Rate of ST on works contract – composition scheme
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4%
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4.8%
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1-4-2012
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9911796707
