Exemption of services provided by TBI/STEP - 32/2012 - Service Tax

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India
Ministry of Finance 
(Department of Revenue)

Notification No. 32/2012- Service Tax

New Delhi, the 20^th June, 2012

            G.S.R….. (E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification number 9/2007-ST, dated the 1^st March,2007, published in the Gazette of India, Extraordinary, vide number G.S.R. 163 (E), dated the 1^st March,2007, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services, provided or to be provided, by a Technology Business Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) recognized by the National Science and Technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, Government of India ¹[or bio-incubators recognized by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India,], from the whole of the service tax leviable thereon under section 66B of the said Finance Act, subject to following conditions, namely:-

1.      that the STEP or the TBI, ²[or the bio-incubator] who intends to avail the exemption, shall furnish the requisite information in Format I below containing the details of the incubator along with the information in Format II below received from each incubatee to the concerned Assistant Commissioner or the Deputy Commissioner of Central Excise, as the case may be, before availing the exemption; and

2.      that the STEP or the TBI shall furnish the information in the said Format I and Format II  in the same manner before the 30th day of June of each financial year.

 

Format - I - Information to be furnished by TBI or the STEP ³[or the Bio-Incubator]

Filed in the financial year ______

        (a)        Name of the Technology Business Incubator / Science and Technology Entrepreneurship Park ⁴[/bio-incubator ] ____________

        (b)        Address ____________

        (c)        Whether availing benefit of exemption for first time _____________

        (d)        If the answer to 3 is not in affirmative, the date from which benefit is being availed _____

        (e)        Details of taxable services provided during the previous financial year :-

Sl. No.	Description of Taxable Service	Value of taxable Service Provided
		To incubatee	To others

 

(f) Details of Taxable services provided by incubatees as per enclosure ______________

Place _______
Date  _______

Signature of the authorised person

Acknowledgement

I hereby acknowledge the receipt of Format I for the period________

Place ______
Date  ______

Signature of the Officer of
Central Excise and Service Tax
(with Name and Official seal)

Format II – Information to be obtained by TBI / STEP ⁵[/the Bio-Incubator] from each incubatee and to be filed along with Format I

1. Name of the Incubatee ________

2. Address  ________

3. Details of the project _________

4. Date of signing agreement with the TBI / STEP (incubator) ⁶[/the bio-incubator] _______

5. Total business turnover during the previous financial year ________

6. Details of taxable services provided during the previous financial year ________

 

 

Sl. No.	Description of Taxable Service	Value of Service Provided

 

Place ____
Date  ____

Signature of the authorized person

2. This notification shall come into force on the 1^st   day of July, 2012.

[F.No. 334 /1/ 2012-TRU]

 

(Rajkumar Digvijay)

Under Secretary to the Government of India

 

-----------------------------

Notes:-

1. Inserted vide Not. 12/2016 - Dated 1-3-2016 w.e.f. 1st of April, 2016

2.  Inserted vide Not. 12/2016 - Dated 1-3-2016 w.e.f. 1st of April, 2016

3. Inserted vide Not. 12/2016 - Dated 1-3-2016 w.e.f. 1st of April, 2016

4. Inserted vide Not. 12/2016 - Dated 1-3-2016 w.e.f. 1st of April, 2016

5. Inserted vide Not. 12/2016 - Dated 1-3-2016 w.e.f. 1st of April, 2016

6. Inserted vide Not. 12/2016 - Dated 1-3-2016 w.e.f. 1st of April, 2016