• Sep
  • 01
  • 2012

Free Book on New System of Taxation of Services

CA Rajkumar S. Adukia

Taxation of services in India has been a learning experience for not only the tax payers but also the tax administrators. The gradual expansion of the list of taxable services from an initial three to more than one hundred has posed its own challenges. The Finance Act, 2012 has started to change this all and usher in a new system of taxation of services; popularly known as the Negative List. No more will the most often-asked question “which taxable service is being provided?” be relevant. The switch-over to a negative list-based approach is aimed at aligning the indirect taxation system to the proposed Goods and Services Tax (GST) regime, which is sought to be introduced to unify the levies of the Centre and the States into a composite system.

The new system of taxation of services is made applicable from 1st July 2012.

Negative list of services, declared services, new reverse charge mechanism, new Place of Provision of Services Rules, 2012 are some of the highlights of the new scheme of taxation.

Henceforth, service tax is levied on all services provided in the taxable territory by a person to another for a consideration other than the services specified in the negative list. Therefore the services specified in the negative list are out of the ambit of chargeability of service tax. Except the activities mentioned in the negative list and mega exemption notification, all other services come under the tax at the increased rate of 12.36 percent.

The Place of Provision of Services Rules contains the principles on the basis of which taxing jurisdiction of a service can be determined.

So,if you are wading through reams of paperwork, trying to make sense of all the mumbo jumbo surrounding the new service tax regime, it’s time to take a break as an informative handbook giving adequate information on the new system of taxation of services has been attached for your reference.

Book Covers the following Topics

1. Introduction

1.1. What is Service Tax?

1.2. New Scheme of Taxation

2. What is the meaning of service?

3. History of service tax in India 3.1. Constitutional provisions behind levy of Service Tax

4. Legislations governing service tax

5. Overview of the new system of taxation of services

6. Negative list

6.1. Mega exemption

7. Taxability of services

8. Taxability of bundled services

9. Declared Services

10. Point of Taxation

11. Place of provision of services

12. Reverse charge mechanism

13. Abatement

14. Other important amendments

15. List of Notifications issued in 2012

16. Important websites

Download Free Free Book on New System of Taxation of Services


10 Responses to “Free Book on New System of Taxation of Services”

  1. Zaheer Savkar says:

    Sir,

    Saluting your efforts.

    Thank you very much,

    Regards,
    Zaheer Savkar

  2. Satish Gupta says:

    Amazing resource for beginners. Thank you very much

  3. Simon Gwenzi says:

    You have provided a valuable resorce on services tax. Thank you very much.

  4. Simon says:

    Thank you very much for the valuable and informative book on services tax.

  5. DPRABHAKARA RAO says:

    THIS BOOK IS VALUE TO LEANERS & TAX PAYER’S ALSO. IT IS ALSO VERY USEFUL

    TO HOW TAXATION ON SERVICE TAX. THEY ALSO KNOW THE NEGATIVE LIST OF THE

    SERVICES

  6. B.Sreenivasa Rao says:

    Simply amazing with comprehensive coverage.

  7. BABU RAJENDRA PRASAD says:

    Thanks for your great effort, This book will be help full as a ready referencer for every one

  8. Narendra Jain says:

    Thanks for your hard work

  9. M R JETHWANI says:

    Congrats for bringing out an a concise and comprehensive informative booklet.

    Please keep up the good work.

    Thanks 

    M R JETHWANI- FCA

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