Definition of Governmental Authority amended for exemption from Service Tax

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..... Definition of Governmental Authority amended for exemption from Service Tax - By: - Bimal jain - Service Tax - Dated:- 1-2-2014 - - Dear Professional Colleague, Definition of Governmental Authority amended for exemption from Service Tax Notification No. 02/2014-ST dated January 30, 2014 ( the Notification ) has amended the definition of Governmental Authority as provided under clau .....

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..... se (s) of Para 2 of the Mega Exemption Notification No. 25/2012-ST dated June 20, 2012 as under: (s) Governmental authority means an authority or a board or any other body; (i) set up by an Act of Parliament or a State Legislature; or (ii) established by Government, with 90 percent or more participation by way of equity or control, to carry out any function entrusted to a munici .....

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..... pality under article 243W of the Constitution. Earlier, the Governmental authority was defined as under: Governmental authority means a board, or an authority or any other body established with 90 percent or more participation by way of equity or control by Government and set up by an Act of the Parliament or a State Legislature to carry out any function entrusted to a municipal .....

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..... ity under article 243W of the Constitution . This change is effective from 30 th January, 2014. Point to note: This amendment has expanded the definition of Governmental Authority and widens the exemption base for service tax to be provided even to an authority or a board or any other body, set up by an Act of Parliament or a State Legislature without a condition of established w .....

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..... ith 90 percent or more participation by way of equity or control by Government. Hope the information will assist you in your Professional endeavors. In case of any query/ information, please do not hesitate to write back to us. Thanks Best Regards Bimal Jain FCA, FCS, LLB, B.Com (Hons) F-30/31/32, Pankaj Grand Plaza 1st Floor, Mayur Vihar, Phase I, Delhi 110091 India Desktel .....

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..... : +91-11-22757595 Mobile:+91 9810604563 Email: bimaljain at the rate of hotmail.com Disclaimer: The contents of this document are solely for informational purpose. It does not constitute professional advice or recommendation of firm. Neither the authors nor firm and its affiliates accepts any liabilities for any loss or damage of any kind arising out of any information in this documen .....

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..... t nor for any actions taken in reliance thereon. Readers are advised to consult the professional for understanding applicability of this newsletter in the respective scenarios. While due care has been taken in preparing this document, the existence of mistakes and omissions herein is not ruled out. No part of this document should be distributed or copied (except for personal, non-commercial u .....

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..... se) without our written permission. - Reply By Bimal jain as = Corrigendum in Point to Note: The Central Government vide Notification No. 02/2014-ST dated 30th January, 2014 ( the Notification ) has substituted the definition of Governmental Authority to expand the scope of exemption to an authority or a board or any other body either set up by an Act of Parliament .....

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..... or a State Legislature or established by Government , with 90 percent or more participation by way of equity or control, to carry out any function entrusted to a municipality under A rticle 243W of the Constitution. Dated: 3-2-2014 - Scholarly articles for knowledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementin .....

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..... dia.com - TMI - TaxTMI - TMITax .....

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