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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 said Finance Act), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the taxable service of the description specified in column (2) of the Table below, from so much of the service tax leviable thereon under section 66B of the said Finance Act, as is in excess of the service tax calculated on a value which is equivalent to a percentage specified in the corresponding entry in column (3) of the said Table, of the gross amount charged by such service provider for providing the said taxable service, subject to the relevant conditions specified in the corresponding entry in column (4) of the said Table,
In addition to the 17 services listed as negative lists of services by Section 66 D, additional 34 services have been notified to be exempt from payment of service tax. This may be called as mega exemption notification.
NOTIFICATION NO. 11/2012-ST, DATED 17-3-2012 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 :- 1. (1) These rules may be called the Service Tax (Determination of Value) Amendment Rules, 2012.
Notification No. 10/2012 – ST, dated 17-3-2012 In exercise of the powers conferred by sections 93 and 94 of the Finance Act, 1994 (32 of 1994), the Central Government hereby makes the following rules further to amend the Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007, namely:- 1. (1) These rules may be called the Works Contract (Composition Scheme for Payment of Service Tax) Amendment Rules, 2012.
Notification No.9/2012 – ST, dated 17-3- 2012 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 makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.9/2010-Service Tax, dated the 27th February, 2010, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 153 (E), dated the 27th February, 2010, namely:-
Notification No. 8/2012-ST, dated 17-3-2012 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 makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.8/2010-Service Tax, dated the 27th February, 2010, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i), vide number G.S.R. 152 (E), dated the 27th February, 2010, namely:-
Notification No.7/2012-ST, dated 17-3-2012 Section 65(105)(zzzp) of the Finance Act, 1994 – Transport of goods by rail service – Exemption to transport of goods by rail – Amendment in Notification No. 7/2010-ST, dated 27-2-2010
Notification No.6/2012 – ST, dated 17-3-2012 Central Government hereby exempts the taxable service specified in clause (zzzo) of sub-section (105) of section 65 of the Finance Act, from so much of the service tax leviable thereon under section 66 of the Finance Act, as is in excess of the service tax calculated on a value which is equivalent to forty per cent of the value of the taxable service by such service provider for providing the said taxable service
Notification No.5/2012 – ST, Dated 17-3-2012 aggregate value means the sum total of value of taxable services charged in the first consecutive invoices issued or required to be issued, as the case may be, during a financial year but does not include value charged in invoices issued towards such services which are exempt from whole of service tax leviable thereon under section 66 of the said Finance Act under any other notification’.
Notification No.4/2012 – ST, dated 17-3-2012 After rule 2 of the said rules, the following rule shall be inserted, namely:- 2A. Date of payment.- For the purposes of these rules, date of payment shall be the earlier of the dates on which the payment is entered in the books of accounts or is credited to the bank account of the person liable to pay tax:
