Extracts - Addressing various proposal of theBudget 2003

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... oposed to be imposed on the following services (to be effective from a date to be notified). a) Commercial vocational institutes, coaching centers and private tutorials. b) Technical testing and analysis (excluding health and diagnostic testing), technical certification. c) Maintenance and repair services namely, Annual Maintenance Contracts (AMC) and other maintenance services; authorized repa .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... banks and body corporates in relation to foreign exchange are covered under Service Tax. The proposal is to extend the same to proprietorship, partnership and other individual concerns providing such services. 3) The present exemption from service tax on hotels has been extended beyond 31.3.2003. 4) Exemption from service tax when payments are received in convertible foreign exchange has been w .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... g with insertion of a new section 71A for the period 16.7.1997 to 16.10.1998 [ 150 of the Finance Bill]. Basically, this change will require the assessees (service receiver in respect of GTO and C&F services) to file a fresh return within 6 months from the date of enactment of Finance Bill which can then be assessed. This is a validating provision. 12.2 The Board vide its telexes F.No.No.356/91/9 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X