What is 66D exemption?

What is 66D exemption?

Under Section 66D of the Finance Act 1994, a negative list of services have been outlined, which are deemed to be exempt from service tax. Any service provided that does not come under the purview of this list is liable to be levied with service tax.

Is the Financial Act 1994 repealed?

Learned Advocate appearing for the petitioner submits that, the Central Goods and Services Tax Act, 2017 repeals Chapter V of the Finance Act, 1994.

What is mega exemption in service tax?

2012 the Central Government has exempted many of the services from the levy of service tax. This notification is called as Mega Exemption Notification since the exemption is considerably high. Subsequently many notifications were issued in relation to mega exemptions.

Which among the following is not included in section 66D of service tax?

As per sub-clause (i) of clause (a) of section 66D services provided by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services carried out on payment of commission on non government business are excluded from the negative list.

What is 66D of IT Act?

Section 66D of the IT Act prescribes punishment for ‘cheating by personation by using computer resource’ and provides that any person who by means of any communication device or computer resource cheats by personation, shall be punished with imprisonment of either description for a term which may extend to 3 (three) …

What are the services being rendered by government exemption tax?

As for instance, services, namely, (i) services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government; (ii) services in relation to an aircraft or a vessel, inside or outside the precincts of an airport or a port; (iii) …

Has Finance Bill 2021 been passed?

The Lok Sabha has passed the Finance Bill, 2021 on March 23, 2021. More than 100 changes have been made in the Finance Bill, 2021 as passed by the Lok Sabha [hereinafter referred to as Finance Bill (Lok Sabha)]. New amendments have been proposed, some proposed amendments have been removed or altered.

Has Finance Bill 2020 been passed?

The Finance Bill 2020 has been passed by the Lok Sabha on 23 March 2020 and also duly returned by the Rajya Sabha. In the newsflash we have covered the significant amendments to the Finance Bill 2020 as has been passed by the Lok Sabha.

What is the threshold limit for service tax?

All service providers in India are required to obtain service tax registration once the annual aggregate taxable services revenue exceeds Rs. 9 lakhs. Service tax payment or liability accrues once the aggregate value exceeds Rs. 10 lakhs.

Are doctors liable for service tax?

a) The amount booked under “collection charges/facilitation fee” of doctors is not liable to service tax under Business Support Service. In terms of Section 65(104c) of the Finance Act, 1994, doctors are not “business entities” and are not engaged in a business or commerce.

On which services GST is not applicable?

All the services related to agriculture including harvesting, cultivation, supply, packaging, warehouse, renting or leasing of machinery, etc. are exempted from GST. However, this does not include the rearing of horses. Transportation of individuals via public transport, metered cabs, auto-rickshaws, metro, etc.

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