https://www.taxtmi.com/circulars?id=4140 Finance Bill, 2008 expands the scope of service tax by newly specifying several services (IT software service, ULIP investment management, stock/commodity exchange and clearinghouse services, supply of tangible goods for use, and internet telecommunication), clarifies classification of composite supplies based on the element giving essential character, and tightens valuation for associated enterprises by making tax payable on crediting/debiting in books. It adjusts thresholds and registration limits, alters exemptions (notably for certain hotel bookings and GTA abatement with denial of Cenvat), amends penalties, and changes Service Tax and Cenvat Rules on advance payment, returns, cross-border place of taxation and works contract composition. en-us Fri, 29 Feb 2008 00:00:00 +0530 Fri, 06 Jan 2012 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4140 Finance Bill, 2008 expands the scope of service tax by newly specifying several services (IT software service, ULIP investment management, stock/commodity exchange and clearinghouse services, supply of tangible goods for use, and internet telecommunication), clarifies classification of composite supplies based on the element giving essential character, and tightens valuation for associated enterprises by making tax payable on crediting/debiting in books. It adjusts thresholds and registration limits, alters exemptions (notably for certain hotel bookings and GTA abatement with denial of Cenvat), amends penalties, and changes Service Tax and Cenvat Rules on advance payment, returns, cross-border place of taxation and works contract composition. Circulars Service Tax Fri, 29 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4140