Notification No. 9/2007-Service Tax

New Delhi, the 1st March, 2007

10 Phalguna, 1928 (Saka)

G.S.R. (E). – In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts all taxable services, provided or to be provided, by a Technology Business Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) recognized by the National Science and Technology Entrepreneurship Development Board (NSTEDB) of the Department of Science and Technology, Government of India, from the whole of the service tax leviable thereon under section 66 of the said Finance Act.

2. The exemption contained in this notification shall be subject to the following conditions, namely:-

  • the STEP or the TBI, who intends to avail the exemption, shall furnish the requisite information in Format I containing the details of the incubator along with the information in Format II received from each incubatee to the concerned Assistant Commissioner or the Deputy Commissioner of Central Excise, as the case may be, before availing the exemption; and
  • the STEP or the TBI shall thereafter furnish the information in the formats mentioned above in the same manner before the 30th day of June of each financial year.

Format – I – Information to be furnished by TBI or the STEP

Filed in the financial year ______

  1. Name of the Technology Business Incubator / Science and Technology Entrepreneurship Park
  2. Address
  3. Whether availing benefit of exemption for first time
  4. If the answer to 3 is not in affirmative, the date from which benefit is being availed
  5. Details of taxable services provided during the previous financial year
  6. Details of Taxable services provided by incubatees as per enclosure.

Place

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Date

Signature of the authorised person

Acknowledgement

I hereby acknowledge the receipt of Format I for the period____

Signature of the Officer of
Central Excise and Service Tax
(with Name and Official seal)

Format II – Information to be obtained by TBI / STEP from each incubatee and to be filed along with Format I

  1. Name of the Incubatee
  2. Address
  3. Details of the project
  4. Date of signing agreement with the TBI / STEP (incubator)
  5. Total business turnover during the previous financial year
  6. Details of taxable services provided during the previous financial year

Place Date

Signature of the authorized person

3. This notification shall come into force on and from the 1st day of April 2007.

[F. No. 334/1/2007-TRU]

(R. Sriram)

Deputy Secretary to the Government of India

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Posted Under

Category : Service Tax (3286)
Type : Notifications (15278) Notifications/Circulars (30306)

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