Service tax scope expansion: new services and compliance reforms change liability timing, valuation and credit treatment. Service tax coverage is widened by adding two new taxable services and expanding many existing service definitions to capture investment management, expanded coaching, club services to non members, business support, legal and specified clinical establishment services, with targeted abatements and tariff thresholds. The compliance regime is reworked to incentivise self correction through reduced penalties when complete records exist and dues are paid, while stiffening sanctions and prosecution for deliberate evasion. Point of Taxation Rules determine the time of supply (earliest of provision, invoice or payment). Cenvat Credit Rules are clarified and restricted, valuation for money changing prescribed, and export/SEZ rules amended with specific exemptions.
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Service tax scope expansion: new services and compliance reforms change liability timing, valuation and credit treatment.
Service tax coverage is widened by adding two new taxable services and expanding many existing service definitions to capture investment management, expanded coaching, club services to non members, business support, legal and specified clinical establishment services, with targeted abatements and tariff thresholds. The compliance regime is reworked to incentivise self correction through reduced penalties when complete records exist and dues are paid, while stiffening sanctions and prosecution for deliberate evasion. Point of Taxation Rules determine the time of supply (earliest of provision, invoice or payment). Cenvat Credit Rules are clarified and restricted, valuation for money changing prescribed, and export/SEZ rules amended with specific exemptions.
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