Services provided by BIRAC approved incubators to incubatees exempted from service tax

Seeks to amend notification No.32/2012-Service Tax, dated the 20^thJune, 2012, so as to exempt services provided by the bio-incubators approved by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India.

CBEC vide Notification No. 12/2016-Service Tax, Dated: March 01, 2016 has extended the exemption from service tax provided to a Technology Business Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) (No.32/2012-Service Tax, dated the 20^thJune, 2012,) further to services provided by the bio-incubators approved by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India w.e.f 01.04.2016.

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(DEPARTMENT OF REVENUE)

NOTIFICATION No. 12/2016-Service Tax

New Delhi,Dated: 1^st March, 2016

G.S.R.260 (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 makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.32/2012-Service Tax, dated the 20^th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 474(E), dated the 20^th June, 2012, namely:-

1.In the said notification,-

(1) in the opening paragraph,-

(a) after the words “Department of Science and Technology, Government of India”, the following words shall be inserted, namely:-

“or bio-incubators recognized by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India,”;

(b) in conditions 1 and 2, after the words and letters “or the TBI”, the words “or the bio­ incubator” shall be inserted;

     (2) in Format-I,-

(a) in the heading, after the word and letters “the STEP”, the words “or the Bio­ Incubator” shall be added;

(b) in item (a), after the word “Park”, the words and signs “/bio-incubator” shall be inserted;

    (3) in Format-II,-

(a) in the heading, after the letters “STEP”, the signs and words “/the Bio-Incubator” shall be inserted;

(b) in serial number 4, after the letters, brackets and word “STEP (incubator)”, the signs and words “/the bio-incubator” shall be inserted.

2. This notification shall come into force on the 1^st of April, 2016.

[F. No. 334/8/2016-TRU]

(K. Kalimuthu)

Under Secretary to the Government of India

Note.- The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), by notification No. 32/2012 – Service Tax dated the 20^th June, 2012 vide number G.S.R. 474(E) dated the 20^th June, 2012.