Service Tax - Changes effective from today:
(i) AMENDMENTS to exemptions at S. Nos. 12, 14, 16, 20, 21 and 29 of notification No. 25/2012-ST (Construction, erection commissioning or Installation services for Government, Port or Airport, services by performing artists, transportation of specified goods, services provided by a mutual fund agent to a mutual fund or assets management company and distributor to a mutual fund or AMC)
(ii) Omitting the entry at S. No. 32 in notification No. 25/2012-ST (exemption to public telephone calls)
(iii) New exemptions for,-
Precondition, pre-cooling, ripening, waxing, retail packing, labeling of fruits and vegetables
Service by a Common Effluent Treatment Plant operator
Varistha Bima Yojana
Ambulance services
Admission to a museum, zoo, national park, wild life sanctuary, and a tiger reserve
Service provided by exhibitor of movie to a distributor or an AOP consisting of exhibitor as one of its member
Transport of export goods by road from the place of removal to a land customs station
(iv) Change in abatement rates and conditions thereof for transport of passengers and goods by train; transport of goods by road by a GTA; transport of goods by vessels; executive/business class travel by air; and withdrawal of abatement on services provided in relation to chit
(v) Amendment in reverse charge mechanism,-
Full reverse charge on manpower supply and security service provided by individual, HUF, partnership firm to a body corporate
Reverse charge on service provided by a mutual fund agent, mutual fund distributor and agents of lottery distributor
(vi) Amendment in rule 4(7) of the Cenvat Credit Rules to allow credit of service tax paid by recipient of service in partial reverse charge immediately on payment of tax.
It is reiterated that the enhanced rate of 14% is NOT applicable from today.