This E book on changes in services tax amendments applicable from 01.07.2012 is aimed at educating the tax payers and the tax administrators on various aspects of the new concept in order to assist them in gaining better understanding about the new system of taxation. It is clarified at the outset that this guide is merely an educational aid based on a broad understanding of a team of officers of the issues. It is neither a "Departmental Circular" nor a manual of instructions issued by the Central Board of Excise and Customs. To that extent it does not command the required legal backing to be binding on either side in any manner. The guide is being released purely as a measure of facilitation so that all stakeholders obtain some preliminary understanding of the new issues for smooth transition to the new regime.
What is the key to using this Guide?
The guide consists of a number of Guidance Notes. Each of the notes deals with a specific topic relating to the negative list. The list of these educational notes is as follows-
- Guidance Note 1 Introduction
- Guidance Note 2 What is 'service'?
- Guidance Note 3 Taxability of a 'service'
- Guidance Note 4 Negative List
- Guidance Note 5 Place of Provision of Service
- Guidance Note 6 Declared Services
- Guidance Note 7 Exemptions
- Guidance Note 8 Valuation
- Guidance Note 9 Rules of Interpretation
- Guidance Note 10 Miscellaneous
In addition, the Guide has the following three Exhibits:
- Exhibit A1 - List of services specified in the negative list
- Exhibit A2 - Place of Provision of Service Rules, 2012.
- Exhibit A3- List of exemptions in mega notification