<h1>Ministry of Finance Proposes Negative List for Service Taxation; Seeks Public Feedback on Implementation with or without GST.</h1> The Revised Concept Paper on Taxation of Services based on a Negative List, released by the Ministry of Finance in November 2011, reflects broad support for a negative list approach to service taxation. This method simplifies tax administration and compliance compared to a positive list. Stakeholders are divided on whether to implement it alongside GST or independently. The paper maintains the previous definition of taxable services and outlines a proposed charging section. It specifies that economic activities, not including employment or non-commercial activities, are taxable. The revised negative list excludes certain services like agriculture-related services and adds new exemptions, particularly in transport and financial sectors. The document aims for public consultation to refine the approach before implementation.