TaxTMI 
TaxTMI 
TaxTMI 
The budget has introduced several changes in Service Tax laws. These changes aimed at widening the tax base and to pave the path for smooth implementation of GST. The amendments are categorized as under:-
- Changes coming into effect immediately w.e.f 1st March 2015
- Changes coming into effect from the 1st day of April 2015.
- The amendments which will get incorporated in the Finance Act 1994 immediately on enactment of the Finance Bill 2015.
- The changes to be made effective from the date notified by the government.
- Levy of cess on all or certain taxable services will come into effect from a ate to be notified.
Amendments / Propose dAmendments |
(1) With effect from 01.03.2015 |
Shifting the liability of payment of service tax on aggregator of service where service is provided under the brand name of the aggregator |
Amendments in rules 4, 4A and 5 of the Service Tax Rules 1994 |
Certain amendments in the Cenvat Credit rules |
Rescinding notification No 42/2012 - ST |
Extending scope of advance rulings to resident firms |
(2) With effect from 01.04.2015 |
Rationalization of certain exemptions under Mega Exemption Notification at entry 12,14,16,20,21 and 29 |
Certain new exemptions |
Omissions in the exemption notification |
Changes in abatement and its conditions |
Amendment in reverse charge mechanism |
Certain amendments in Cenvat Credit Rules |
(3) With effect from the enactment of Finance Bill 2015 |
New definition of government |
New explanation to 65B(44) |
Insertion of illustration in section 66F |
Changes is the definition of consideration |
Amendments in sections 73, 76 and 78 of the Finance Act 1994 |
Insertion of transition provision |
Omission of section 80 |
Amendment in section 86 |
Amendment in the provisions of Settlement Commission |
Omission of rule 6(6A) of the Service Tax Rules |
(4) With effect from the notified date |
Amendment in Negative List |
Certain amendments in Mega Exemption Notification |
Insertions in Mega Exemption Notification |
Amendments in alternative rates as mentioned in Service Tax Rules |
This is just for your reference. It does not constitute our professional advise or recommendation.
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