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TMI BlogEXEMPTION AGAINST SCRIPS IN SERVICE TAXX X X X Extracts X X X X X X X X Extracts X X X X ..... EXEMPTION AGAINST SCRIPS IN SERVICE TAX - By: - Dr. Sanjiv Agarwal - Service Tax - Dated:- 31-7-2015 - - Vide Notification Nos. 6/2013-ST , 7/2013-ST and 8/2013-ST , all dated 18.4.2013, Central Government has exempted the taxable services provided or agreed to be provided against a scrip by a person located in the taxable territory subject to certain conditions. Specific Exemptions aga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inst Scrips The specific exemptions against notified scrips are as under:- (a) Notification No. 6/2013-ST dated 18.4.2013 Exemption for focus market scheme duty credit scrip issued to an exporter by Regional Authority as per Para 3.14 of Foreign Trade Policy. The scrip should be issued against exports to the countries notified in Appendix 37C of the Handbook of Procedures, Vo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... lume-I. The conditions specified in this notification has been amended vide Notification Nos. 11/2013-ST, dated 13.6.2013 , Notification No. 17/2013-ST, dated 26.12.2013 and Notification No. 5/2014-ST, dated 24.2.2014. (b) Notification No. 7/2013-ST dated 18.4.2013 Exemption to the Focus Product Scheme duty credit scrip issued to an exporter by the Regional Authority in terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Para 3.15 of Foreign Trade Policy. The scrip should be issued against export of products listed in Appendix 37D of the Hanbook of Procedures, Volume 1. (c) Notification No. 8/2013-ST dated 18.4.2013 Exemption to the Vishesh Krishi and Gram Udyog Yojana (Special Agriculture and Village Industry Scheme) duty credit scrip issued to an exporter by the Regional Authority in terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Para 3.13.2 of the Foreign Trade Policy. The scrip should be issued in against exports of the products listed in Appendix 37A of the Handbook of Procedures, Volume 1. (d) Notification No. 10/2015-ST dated 08.04.2015 Exemption to services provided or agreed to be provided against a scrip by person located in taxable territory - Such exemption shall be applicable to the Merchandi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se Exports from India Scheme (MEIS) duty credit scrip issued to an exporter by the Regional Authority as per paragraph 3.04 and 3.05 of Foreign Trade Policy (2015-2020) (FTP). For this exemption, 'scrip' means merchandise exports from India scheme duty credit scrip issued to exporter by Regional Authority as per FTP . The exemption is subject to conditions specified in the Notificat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion [ Notification No. 10/2015-ST dated 08.04.2015 . (e) Notification No. 11/2015-ST dated 08.04.2015 Exemption to services provided or agreed to be provided against a scrip by a person located in taxable territory - Such exemption shall be applicable to service exports from India duty credit scrips (SEIS) issued by the Regional Authority in terms of paragraphs 3.08 and 3.10 of For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eign Trade Policy (2015-2020) (FTP). For this exemption, 'scrip' means service exports from India scheme duty credit scrip issued to an exporter by the Regional Authority as per Para 3.08 and 3.10 of FTP. The exemption is subject to conditions specified in the Notification [ Notification No. 11/2015-ST dated 8.4.2015 ]. In these exemptions, the holder of the scrip to whom the tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... able services were provided or agreed to be provided shall be entitled to avail the draw back or Cenvat Credit of Service Tax leviable under section 66B , against the Service Tax debited in the scrip and validated by the Officer. Foreign Trade Policy means Foreign Trade Policy 2009-2014 published by Government of India in the Ministry of Commerce and Industry. - - Scholarly articles for kno ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wledge sharing authors experts professionals Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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