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Budget VI - Effect on Reverse Charge Notification

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..... Budget VI - Effect on Reverse Charge Notification
By: - CA Akash Phophalia
Service Tax
Dated:- 4-3-2015

BUDGET VI - Effect On Reverse Charge Mechanism: Old Law New Law Effective Date Paragraph I (A)(ib) New entry The taxable services provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset management company. 1st Day of April, 2015 .....

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..... Paragraph I (A)(ic) New entry The taxable services provided or agreed to be provided by a selling or marketing agent of lottery tickets to a lottery distributor or selling agent. 1st Day of April, 2015 Paragraph I (A)(iv)(C) The taxable services provided or agreed to be provided by government or local authority by way of support services excluding:- * Renting of immovable property , and * .....

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..... Services specified in sub clauses (i),(ii) and (iii) of (a) of section 66D of Finance Act, 1994. The taxable services provided or agreed to be provided by government or local authority excluding:- 1) Renting of immovable property, and 2) Services specified in sub- clauses (i),(ii) and(iii) of clause (a) of section 66D of the Finance Act,1994. Date to be notified by Central Government. Also c .....

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..... lause 49 of Section 65 B explaining meaning of support services has been omitted. Paragraph I (A)(vi) New entry The taxable services provided or agreed to be provided by a person involving an aggregator in any manner; 1st Day of March, 2015 Additions or modifications in the extent of Service tax payable by specified persons SI No. Description of Service Service Provider Any person liable .....

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..... to pay service tax other than the service provider. % Of service tax payable by the person providing service (i.e. service provider) % of service tax payable by any person liable to pay service tax other than the service provider. 1B (New Entry effective from 01.04.2015) In respect of service provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset ma .....

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..... nagement company Mutual Fund Agent or distributor Mutual Fund or Asset Management Company Nil 100% 1C (New Entry effective from 01.04.2015) In respect of service provided or agreed to be provided by selling or marketing agent of lottery tickets to a lottery distributor or selling agent Selling or Marketing agent of lottery tickets Lottery distributor or selling agent Nil 100% 8 (Modif .....

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..... ication effective from 01.04.2015) In respect of services provided or agreed to be provided by way of supply of manpower for any purpose or security services. Individual or HUF or Proprietary firm or Partnership firm or Association of Persons Business entity registered as Body Corporate Nil (Earlier - 25%) 100% (Earlier - 75%) 11 (New Entry effective from 01.03.2015) In respect of servic .....

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..... e provided or agreed to be provided by a person involving an aggregator in any manner; Person involving aggregator Aggregator of service or the person representing the aggregator in the taxable territory or the person appointed by the aggregator for the purpose of paying service tax. Nil 100% This is just for your reference. It does not constitute our professional advise or recommendation. C .....

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..... A Akash Phophalia 9799569294 [email protected] Office No 3 Second Floor Amrit Kalash Residency Road Near Bombay Motor Circle Jodhpur - 342001 Rajasthan
Scholarly articles for knowledge sharing by authors, experts, professionals .....

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