New entries being incorporated in notification No. 25/12-ST, to continue exemption to some of the services that are presently covered by the Negative List entries which are being omitted

[Admin TMI]

Question - What are new entries proposed in Exemption notification which earlier were part of negative list in Finance Bill 2015 ?

AI Summary

Finance Bill 2015 proposes exemptions for entertainment event services with admission fees up to 500 per person. New entries in notification No. 25/12-ST aim to continue exemptions for services previously under the Negative List, which are being removed. The Finance Bill 2015 proposes exemptions for services related to admission to entertainment events. These include exhibitions of films, circuses, dance, theatrical performances, recognized sporting events, and concerts or similar events with admission fees up to 500 per person. These changes will take effect once amendments to the Negative List concerning admission to entertainment events are implemented.