All taxable services provided by Technology Business Incubator (TBI) and Technology Entrepreneurship Park (STEP)  recognised by the National Science and Technology Entrepreneurship Development Board (NSTEDB) have been  exempted from whole of service tax leviable thereon vide Notification No. 32/2012 dt 20-06-2012 subject to condition that information as required in Format–I and Format-II is furnished to concern Assistant/Deputy Commissioner by 30 th
June of each financial year. This notification has been issued in supersession of Notification No. 9/2007-ST  dt.01-03-2007.

Notification No. 32/2012- Service Tax,

Dated- 20th June, 2012

G.S.R. 474(E).- In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification number 9/2007-ST, dated the 1st March,2007, published in the Gazette of India, Extraordinary, vide number G.S.R. 163 (E), dated the 1st March,2007, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts 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 66B of the said Finance Act, subject to following conditions, namely:-

  1. that the STEP or the TBI, who intends to avail the exemption, shall furnish the requisite information in Format I below containing the details of the incubator along with the information in Format II below 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
  2. that the STEP or the TBI shall furnish the information in the said Format I and Format II  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 ______

        (a)        Name of the Technology Business Incubator / Science and Technology Entrepreneurship Park ____________

        (b)        Address ____________

        (c)        Whether availing benefit of exemption for first time _____________

        (d)        If the answer to 3 is not in affirmative, the date from which benefit is being availed _____

        (e)        Details of taxable services provided during the previous financial year :-

Sl. No.

Description of Taxable Service

Value of taxable Service Provided

To incubatee

To others

       

(f) Details of Taxable services provided by incubatees as per enclosure ______________

Place _______
Date  _______

Signature of the authorised person

Acknowledgement

I hereby acknowledge the receipt of Format I for the period________

Place ______
Date  ______

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 ________

Sl. No.

Description of Taxable Service

Value of Service Provided

Place ____
Date  ____

Signature of the authorized person

2. This notification shall come into force on the 1st   day of July, 2012.

[F.No. 334 /1/ 2012-TRU]

(Rajkumar Digvijay)

Under Secretary to the Government of India 

More Under Service Tax

Posted Under

Category : Service Tax (3290)
Type : Notifications (15402) Notifications/Circulars (30685)

0 responses to “Service Tax Exemption of services provided by TBI/STEP”

  1. Hisham says:

    please help me… please provide formate 1 and format 2 filling template

  2. Hisham says:

    please help me..how to file service tax retun provided document template

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