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TMI BlogNotification under sub-section (2) of section 68 - Reverse ChargeX X X X Extracts X X X X X X X X Extracts X X X X ..... the Central Government hereby notifies the following taxable services and the extent of service tax payable thereon by the person liable to pay service tax for the purposes of the said sub-section, namely:- I. The taxable services,- (A) (i) provided or agreed to be provided by an insurance agent to any person carrying on the insurance business; 6[(ia) provided or agreed to be provided by a recovery agent to a banking company or a financial institution or a non-banking financial company; ] 22[(ib) ***]; 23[(ic) provided or agreed to be provided by a selling or marketing agent of lottery tickets in relation to a lottery in any manner to a lottery distributor or selling agent of the State Government under the provisions of the Lottery (Regulations) Act, 1998 (17 of 1998);";]] (ii) provided or agreed to be provided by a goods transport agency in respect of transportation of goods by road, where the person liable to pay freight is,- (a) any factory registered under or governed by the Factories Act, 1948 (63 of 1948); (b) any society registered under the Societies Registration Act, 1860 (21 of 1860) or under any other law for the time being in force in any part of India; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rom a place outside India up to the customs station of clearance in India; ] (B) provided or agreed to be provided by any person which is located in a non-taxable territory and received by any person located in the taxable territory 33[ other than non-assesse online recipient ]; 16[II. The extent of service tax payable thereon by the person who provides the service and any other person liable for paying service tax for the taxable services specified in paragraph I shall be as specified in the following Table, namely:-] Table 8[Sl.No Description of a service Percentage of service tax payable by the person providing service 17[Percentage of service tax payable by any person liable for paying service tax other than the service provider] (1) (2) (3) (4)] 1 in respect of services provided or agreed to be provided by an insurance agent to any person carrying on insurance business Nil 100% 9[1A in respect of services provided or agreed to be provided by a recovery agent to a banking company or a financial institution or a non-banking financial company Nil 100%] 25[1B. *** ] 18[1C. 26[in respect of services provided or agreed to be provided by a selling or marketi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce outside India up to the customs station of clearance in India Nil 100% ] Explanation-I. - The person who pays or is liable to pay freight for the transportation of goods by road in goods carriage, located in the taxable territory shall be treated as the person who receives the service for the purpose of this notification. Explanation-II. - In works contract services, where both service provider and service recipient is the persons liable to pay tax, the service recipient has the option of choosing the valuation method as per choice, independent of valuation method adopted by the provider of service. 39[Explanation III.- The business entity located in the taxable territory who is litigant, applicant or petitioner, as the case may be, shall be treated as the person who receives the legal services for the purpose of this notification. Explanation IV.- For the purposes of this notification, "non-assesse online recipient" has the same meaning as assigned to it in clause (ccba) of sub-rule 1 of rule 2 of Service Tax Rules, 1994. Explanation V.- For the purposes of this notification, in respect of services provided or agreed to be provided by a person located in non-taxable te ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Central Government may, by notification in the Official Gazette, appoint, before it was read as, "by way of support services" 15. Inserted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st day of March, 2015 16. Substituted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st March, 2015 "(II) The extent of service tax payable thereon by the person who provides the service and the person who receives the service for the taxable services specified in (I) shall be as specified in the following Table, namely:-" 17. Substituted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st March, 2015, "Percentage of service tax payable by the person receiving the service" 18. Inserted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st day of April, 2015 19. Substituted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st day of April, 2015 before it was read as, "25%" 20. Substituted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st day of April, 2015 before it was read as, "75 %" 21. Inserted vide Not. 07/2015 - Dated 1-3-2015 w.e.f. 1st March, 2015 22. Omitted vide Not. 18/2016 - Dated 1-3-2016 before it was read as, 1stday of April, 2016 " 13[(ib) provided or agreed to be provided by a mutual fund agent or distribut ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Not. 3/2017 - Dated 12-1-2017, w.e.f. 22nd day of January, 2017
38. Inserted vide Not. 3/2017 - Dated 12-1-2017, w.e.f. 22nd day of January, 2017
39. Substituted vide Not. 15/2017 - Dated 13-4-2017 w.e.f. 23rd day of April, 2017, before it was read as,
"32[Explanation III. - The business entity located in the taxable territory who is litigant, applicant or petitioner, as the case may be, shall be treated as the person who receives the legal services for the purpose of this notification. ]
35[ Explanation III. For the purposes of this notification, "non-assesse online recipient" has the same meaning as assigned to it in clause (ccba) of sub-rule 1 of rule 2 of Service Tax Rules, 1994.' ]
38[ Explanation IV.- For the purposes of this notification, in respect of services provided or agreed to be provided by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India, person liable for paying service tax other than the service provider shall be the person in India who complies with sections 29, 30 or 38 read with section 148 of the Customs Act, 1962 (52 of 1962) with respect to such goods. ]
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