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TMI BlogNOTES ON CLAUSES - SERVICE TAXX X X X Extracts X X X X X X X X Extracts X X X X ..... vied on the services provided by radio taxis or radio cabs, whether or not air-conditioned. The abatement presently available to rent-a-cab service would also be made available to radio taxi service, to bring them on par. Service tax on radio taxi services will come into effect from a date to be notified later, after the Finance (No.2) Bill, 2014 receives the assent of the President. (ii) Review of general exemptions extended under Notification No. 25/2012-ST in exercise of powers conferred under section 93(1) of the Finance Act,1994: Exemption extended to clinical research on human participants is being withdrawn. Exemption extended to air-conditioned contract carriages like buses is being withdrawn. (iii) Rationalization of general exempt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n view of this rationalization, exemption extended so far in respect of renting of immovable property service received by educational institutions, stands withdrawn. Exemption available to accommodation services provided by hotels, dharamshalas or ashrams when they provide rooms for less than Rupees One Thousand per day, is being re-worded to bring out the intent clearly. However, in cases of (ii) and (iii) above, where the general exemptions are withdrawn, if the aggregate value of taxable service provided in a financial year does not exceed Rupees Ten Lakh, exemption will be available in terms of Notification 33/2012-ST. Changes in the exemption notification No. 25/2012-ST to come into effect immediately. II. Service tax on service portio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 11.7.2014 V. Retrospective Exemption: Service provided by Employees State Insurance Corporation (ESIC) during the period prior to 1.7.2012 to be exempted from service tax. VI. Certain other amendments in Chapter V of the Finance Act, 1994: (i) In section 67A, for determination of rate of exchange, rules to be prescribed. (ii) Section 73 to be amended to prescribe time limit for completion of adjudications; time limit to be followed, as far as possible. (iii) Reference to first proviso to sub-section (1) of section 78, in section 80, to be omitted. In case of serious offences, waiver of penalty not to be available, though details may be available in records. (iv) Section 82(1) to be amended, along the lines of section 12F (1) of the Central ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peals. When the amended section 35F in the Central Excise Act comes into force, it would, mutatis mutandis, apply to service tax by virtue of section 83 of the Finance Act, 1994. (vii) Sub-section (6A) of section 86 proposed to be amended to omit the words for grant of stay or . (viii) In section 87, power to recover dues of a predecessor from the assets of a successor purchased from the predecessor, is to be provided, as it is available in section 11 of the Central Excise Act. (ix) Section 94 to be amended to obtain rule making power (a) to impose upon assessees, inter alia, the duty of furnishing information, keeping records and making returns and specify the manner in which they shall be verified; (b) for withdrawal of facilities or impo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... within the specified period, to be allowed, if such export proceeds are received within one year from the specified period on the basis of documentary evidence of receipt of payment [change to have immediate effect]. Rent-a-cab operator and tour operator: service tax paid by sub-contractor in the same line of business would be allowed as eligible credit to the main service provider to avoid double taxation, subject to certain conditions [with effect from 1st October 2014]. Refer amendment in Notification No.26/2012-ST. GTA service: service receiver may avail abatement, without having to obtain non-availment of Cenvat Credit certificate from service provider [change to have immediate effect]. Refer amendment in Notification No.26/2012- ST. T ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Z procedural simplification : [changes to have immediate effect]. To be provided that the Central Excise Officer would issue Form A-2, within fifteen days from the date of receipt of Form A-1. Exemption would be available from the date when list of service on which SEZ is entitled to upfront exemption is endorsed by the authorised officer of SEZ in Form A-1, provided Form A-1 is furnished to the jurisdictional Central Excise Officer within fifteen days of its verification. If furnished later, exemption would be available from the date on which Form A-1 is so furnished. Pending issuance of Form A-2, exemption will be available subject to condition that authorization issued by the Central Excise officer will be furnished to service provider w ..... X X X X Extracts X X X X X X X X Extracts X X X X
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