Retrospective Exemption:

          • Service provided by Employees’ State Insurance Corporation (ESIC) during the period prior to 1.7.2012 to be exempted from service tax.

Retrospective exemption: services by the social security corporation treated as not taxable under Finance Bill provisions. The Finance (No. 2) Bill, 2014 proposes a retrospective service tax exemption treating services rendered by the designated social security corporation before 1.7.2012 as not taxable, thereby removing historical service tax liability for that pre-cutoff period.