Budget 2012-2013 – Deemed value of taxable service - Abatement
Notification no. 13/2012 – ST ( available on www.taxmanagementindia.com)
(To be effective from Date to be notified after enactment of Finance bill 2012)
Value of the following taxable services for the purpose of levy of service tax would be calculated at percentage specified in the Table subject to the relevant conditions specified
|
Sl. No.
|
Description of taxable service
|
Deemed value - Existing %
|
Proposed %
|
Conditions
|
|
1
|
Financial leasing services including equipment leasing and hire purchase
|
10
(Nft 4/2006)
|
10
|
Nil.
|
|
2
|
Transport of goods by rail
|
30
(Nft 1/2006)
|
30
|
Nil.
|
|
3
|
Transport of passengers by rail
|
New levy
|
30
|
Nil.
|
|
4.1
|
Catering in a premises, including hotel, convention center, club, pandal, shamiana or any place specially arranged for organizing a function
|
Convention center or mandap catering- 60
pandal or shamiana catering – 70
(Nft 1/2006)
|
70
|
CENVAT credit on any goods classifiable under chapter 1 to 22 used for providing the taxable service is not allowed
|
|
5
|
Transport of passengers by air
|
Upto 31.03.2012
Domestic travel – max Rs 150
International Travel – max Rs 750
(Nft 26/2010)
|
40
|
CENVAT credit on inputs and capital goods, not allowed
|
|
w.e.f. 01.04.2012
All Class
Exemption 60%
Levy of ST on 40%
(Nft 6/2012)
|
|
6
|
Renting of hotels, inns, guest houses, clubs, campsites or other commercial places meant for residential or lodging purposes.
|
50
(Nft 1/2006)
|
60
|
CENVAT credit on inputs and capital goods, not allowed
|
|
7
|
Transport of goods by road by Goods Transport Agency
|
25
(Nft 13/2008)
|
25
|
No CENVAT credit
|
|
Exempt –(i) when gross amount charged on consignments not exceeding Rs 1500, or (ii) gross amount charged on individual consignment not exceeding Rs 750 -
(Nft 034/04)
|
|
8
|
Services provided in relation to chit
|
70
(Nft 1/2006)
|
70
|
No CENVAT credit
|
|
9
|
Renting of any motor vehicle designed to carry passengers
|
40
(Nft 1/2006)
|
40
|
No CENVAT credit
|
|
10
|
Transport of goods in a vessel from one port in India to another
|
75
(Nft 1/2006)
|
50
|
No CENVAT credit.
|
|
11
|
(i)Services provided by a tour operator in relation to a package tour
|
25
(Nft 1/2006)
|
25
|
No Cenvat Credit
|
|
|
(ii)Services by a tour operator in relation to a tour, solely of arranging or booking accommodation for any person in relation to a tour
|
10
(Nft 1/2006)
|
10
|
No Cenvat Credit
|
|
|
(iii) Services, other than services specified in (i) and (ii) above, provided to any person, by a tour operator in relation to a tour
|
40
(Nft 1/2006)
|
40
|
No Cenvat Credit
|
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