Notification No.33/2011 – Services provided by a commercial coaching or training centre in relation to preschool coaching and training and any coaching or training leading to grant of a certificate or diploma or degree or any educational qualification which is recognized by any law for the time being in force will be exempt from service tax with effect from 1st May 2011.
Notification No.32/2011 – Service Tax – Services provided or to be provided by practicing professionals, i.e. chartered accountants, cost accountants and company secretaries respectively, in their professional capacity, to a client, relating to representing the client before any statutory authority in the course of proceedings initiated under any law for the time being in force, were exempted from service tax vide Notification No. 25/2006, dated 13 July, 2006.
Notification No.31/2011 – Service Tax – Government hereby exempts the taxable service as referred to in sub-clause (zzzzw) of clause (105) of section 65 of the said Act, when the declared tariff for providing of such accommodation is less than rupees 1000 per day from the whole of the service tax leviable thereon under section 66 of the said Act.
Notification No. 30/2011 – Service Tax – 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 the taxable service referred to in sub-clause (zzzzo) of clause (105) of section 65 of the Finance Act, from the whole of the service tax leviable thereon under section 66 of the said Act.
29/2011 – Service Tax, dated 25-04-2011- In exercise of the powers conferred by clauses (A) and (B) of section 71of the Finance Act, 2011 ( 8 of 2011), the Central Government hereby appoints the 1st day of May 2011, as the date on which the provisions of the said Act shall come into force.
In the notification of the Government of India in the Ministry of Finance, Department of Revenue, (Central Board of Direct Taxes) number 80/2010, dated the 19th October, 2010, to be published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (ii), in paragraph 1 for “annuity plan of the ICICI Prudential Life Insurance Company Limited”, read “annuity plan of the TATA AIG Life Insurance Company.”
For services rendered after 1-7-2010 for which payment has been or is made after 1-7-2010, service tax is leviable and builder is liable to deposit the service tax to the service tax department. The only exception to this is provided within the parenthesis ( ) in the Explanation in para 3.For services rendered after 1-7-2010 for which payment was made prior to 1-7-2010, service tax has been exempted by the Govt. based on documentary evidence vide notification No. 36/2010-S.T., dated 28-6-2010 as amended. Therefore, this benefit can be availed by builders on the basis of documentary evidence.
DBOD.No.BP.BC. 87/21.04.048/2010-11 Majority of the banks have since achieved the PCR of 70 percent and have been representing to RBI whether the prescribed PCR is required to be maintained on an ongoing basis. The matter has been examined by us and till such time RBI introduces a more comprehensive methodology of countercyclical provisioning taking into account the international standards as are being currently developed by Basel Committee on Banking Supervision (BCBS) and other provisioning norms, banks are advised that :
Circular No. 17/2011 Ministry of Corporate Affairs has taken a “Green Initiative in the Corporate Governance” by allowing paperless compliances by the Companies after considering sections 2, 4, 5, and 81 of the Information Technology Act, 2000 for legal validity of compliances under Companies Act through electronic mode. Section 53 of the Companies Act, 1956 provides service of documents under ‘Certificate of posting’ as one of the accepted mode of service. Whereas the Department of posts has recently discontinued the postal facility under ‘Certificate of posting’ vide their letter dated 23.02.201 1. The Information Technology Act, 2000 also permits service of documents etc., in electronic mode.
Section 53 of the Companies Act, 1956 provides service of documents under ‘Certificate of posting’ as one of the accepted mode of service. Whereas the Department of posts has recently discontinued the postal facility under ‘Certificate of posting’ vide their letter dated 23.02.2011. The Information Technology Act, 2000 also permits service of documents etc., in electronic mode.
