Budget VI - Effect on Reverse Charge Notification

Old Law

New Law

Effective Date

Paragraph I (A)(ib)

New entry

The taxable services provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset management company.

1^st Day of April, 2015

Paragraph I (A)(ic)

New entry

The taxable services provided or agreed to be provided by a selling or marketing agent of lottery tickets to a lottery distributor or selling agent.

1^st Day of April, 2015

Paragraph I (A)(iv)(C)

The taxable services provided or agreed to be provided by government or local authority by way ofsupport services excluding:-

1. Renting of immovable property , and
2. Services specified in sub clauses (i),(ii) and (iii) of (a) of section 66D of Finance Act, 1994.

The taxable services provided or agreed to be provided by government or local authority excluding:-

1) Renting of immovable property, and

2) Services specified in sub- clauses (i),(ii) and(iii) of clause (a) of section 66D of the Finance Act,1994.

Date to be notified by Central Government.

Also clause 49 of Section 65 B explaining meaning of support services has been omitted.

Paragraph I (A)(vi)

New entry

The taxable services provided or agreed to be provided by a person involving an aggregator in any manner;

1^st Day of March, 2015

SI No.

Description of Service

Service Provider

Any person liable to pay service tax other than the service provider.

% Of service tax payable by the person providing service (i.e. service provider)

% of service tax payable by any person liable to pay service tax other than the service provider.

1B

(New Entry effective from 01.04.2015)

In respect of service provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset management company

Mutual Fund Agent or distributor

Mutual Fund or Asset Management Company

Nil

100%

1C

(New Entry effective from 01.04.2015)

In respect of service provided or agreed to be provided by selling or marketing agent of lottery tickets to a lottery distributor or selling agent

Selling or Marketing agent of lottery tickets

Lottery distributor or selling agent

Nil

100%

8

(Modification effective from 01.04.2015)

In respect of services provided or agreed to be provided by way of supply of manpower for any purpose or security services.

Individual or HUF or Proprietary firm or Partnership firm or Association of Persons

Business entity registered as Body Corporate

Nil

(Earlier - 25%)

100%

(Earlier - 75%)

11

(New Entry effective from 01.03.2015)

In respect of service provided or agreed to be provided by a person involving an aggregator in any manner;

Person involving aggregator

Aggregator of service or the person representing the aggregator in the taxable territory or the person appointed by the aggregator for the purpose of paying service tax.

Nil

100%