TaxTMI 
TaxTMI 
TaxTMI 
Rate of Service Tax / Exemption from Service Tax
(w.e.f. 17-3-2012 or w.e.f. 1-4-2012)
(Notifications as amended available on www.taxtmi.com)
Sr. No. | Particulars | Old Provisions | New Provisions | Effective Date |
1. | Common facility set-up for treatment and recycling of effluents and solid waste with financial assistance from the central or state government. ST ntf. 1/2012 amends ntf 42/2011 | Only dying unit’s club or association were eligible | All club or association are eligible | 17-3-2012 |
2. | Effective Rate of Service Tax ST nft. 2/2012 rescinds nft. 8/2009 | 10% | 12% | 1-4-2012 |
3. | Exemption upto Rs. 10 Lacs in case small service provider – amends the term “Aggregate value” instead of “aggregate value not exceeding ten lakh rupees” Nft. 5/2012 amends nft. 6/2005 | Changes corresponding to POT Rules, 2011 | 1-4-2012 | |
4. | Exemption in relation to air passenger transport Nft. 6/2012 supersedes nft. 26/2012 | Economy class within India – maximum Rs. 150 Outgoing international – maximum Rs. 750 | All Class Exemption 60% Levy of ST on 40% | 1-4-2012 |
5. | Rail Transport | Exemption extended upto July 1, 2012 | - | |
6. | Rate of ST on works contract – composition scheme | 4% | 4.8% | 1-4-2012 |