Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Retrospective Exemption and Refund: Section 135 of Finance Act, 2025 provides retrospective exemption from service tax for reinsurance services provided by insurance companies under Weather Based Crop Insurance Scheme and Modified National Agricultural Insurance Scheme for the period April 1, 2011 to June 30, 2017. No service tax shall be levied or collected for these services during this period. Refunds will be granted for previously collected service tax, provided applications are submitted within six months from the date the Finance Bill, 2025 receives Presidential assent. Despite the omission of Chapter V of Finance Act, 1994, its provisions will apply retrospectively for processing these refunds.
Retrospective Exemption and Refund: Section 135 of Finance Act, 2025 provides retrospective exemption from service tax for reinsurance services provided by insurance companies under Weather Based Crop Insurance Scheme and Modified National Agricultural Insurance Scheme for the period April 1, 2011 to June 30, 2017. No service tax shall be levied or collected for these services during this period. Refunds will be granted for previously collected service tax, provided applications are submitted within six months from the date the Finance Bill, 2025 receives Presidential assent. Despite the omission of Chapter V of Finance Act, 1994, its provisions will apply retrospectively for processing these refunds.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
