The maximum penalty for delay in filing of return under section 70 is proposed to be increased from Rs.2,000/- to Rs.20,000/-. However, the existing rate of penalty is being retained under rule 7C of the Service Tax Rules, 1994. The maximum penalty is presently reached after a delay of 40 days. The new limit will impact only those who delay filing of return for longer durations.
Amendment in following service vide budget 2011Life Insurance Service, Authorized Service Station, Commercial Training or Coaching Service, Club or Association Service, Business Support Service, Services by legal professionals ,
The following two new services have been proposed:(i) Services by air-conditioned restaurants having license to serve liquor; and (ii) Short-term accommodation in hotels/inns/clubs/guest houses etc.
NOTIFICATION NO. 8/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable services as referred to in sub-clauses (zzn), (zzp) and (zzzp) of clause (105) of section 65 of the Finance Act, provided to any person located in India, when the goods are transported from a place located outside India to a final destination which is also outside India, from the whole of service tax leviable thereon under section 66 of the Finance Act.
NOTIFICATION NO. 7/2011 – SERVICE TAX, DATED 1-3-2011. Service Tax : Section 65(105)(d) of the Finance Act, 1994 – General Insurance Service – Service tax exemption to insurer providing insurance under a specified scheme
NOTIFICATION NO. 6/2011 – SERVICE TAX, DATED 1-3-2011. Service Tax : Section 65(105)(zzzza) of the Finance Act, 1994 – Works contract service – Service tax exemption to works contract provided for construction of new residential complex, etc., under specified scheme
NOTIFICATION NO. 5/2011 – SERVICE TAX, DATED 1-3-2011. Service Tax : Section 65(105)(zzo) of the Finance Act, 1994 – Business Exhibition Services – Exemption to services rendered to exhibitor participating in an exhibition held outside India
Service Tax : Section 65(zzzo) of the Finance Act, 1994 – Transport of passengers by air – Exemption from Service Tax to passengers travelling in economy class within India and to passengers embarking in India for an international journey in economy class – Amendment in Notification No. 26/2010-ST, dated 22-6-2010.NOTIFICATION NO. 4/2011 – SERVICE TAX, DATED 1-3-2011
NOTIFICATION NO. 3/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the Finance Act), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely :—
NOTIFICATION NO. 2/2011 – SERVICE TAX, DATED 1-3-2011. In exercise of the powers conferred by clause (aa) of sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Service Tax (Determination of Value) Rules, 2006, namely :—
