Enhanced Rate of ST:
The following legislative amendments in Service Tax will come into force with effect from 01.06.2015.
1. Section 65B of the Finance Act, 1994 was amended to omit clause 9 - definition of "amusement facility"
2. Section 65B(24) omitted- definition of "entertainment event"
3. Section 65B(40) defines "process amounting to manufacture or production of goods" means a process on which duties of excise are leviable under section 3 of the Central Excise Act, 1944 or the Medicinal and Toilet preparation (Excise Duties) Act, 1955 (16 of 1955) any process amounting to manufacture of alcoholic liquors for human consumption , opium, Indian hemp and other narcotic drugs and narcotics on which duties of excise are leviable under any State Act for the time being in force; The words alcoholic liquors for human consumption are omitted.
4. Service Tax rate enhanced from 12 per cent to 14 per cent - Section 66B amended.
5. Amendment to Section 66D - Negative list; Clause (f) substituted to read as services by way of carrying out any process amounting to manufacture or production of goods excluding alcoholic liquor for human consumption;
6. Amendment to Section 66D - Negative list; Clause (i) amended to add explanation as: 'Explanation.- For the purposes of this clause, the expression "betting, gambling or lottery" shall not include the activity specified in Explanation 2 to clause (44) of section 65B;
7. Amendment to Section 66D - Negative list; Clause (j) - admission to entertainment events or access to amusement facilities; - omitted
8. Section 95 of the Finance Act 2004 - Education Cess on Service Tax omitted.
9. Section 140 of the Finance Act, 2007 - Secondary and Higher Education Cess on taxable services - omitted
Notification No. , Dated May 19 2015
Chit goes : In 03 03 2015, we reported: