https://www.taxtmi.com/circulars?id=8619 The circular operationalises new and amended Service Tax entries effective May 1, 2011, setting valuation and exemption rules: restaurants receive a 70% gross value exemption only if no Cenvat credit is claimed and service charges are included in taxable gross value while tips are excluded; short term accommodation is taxed based on a declared tariff definition with exemptions below the threshold and a 50% valuation concession absent Cenvat credit; life insurance taxation allows an option to tax the non investment premium portion or apply a prescribed valuation where no break up is provided. en-us Mon, 25 Apr 2011 00:00:00 +0530 Mon, 09 Jan 2012 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8619 The circular operationalises new and amended Service Tax entries effective May 1, 2011, setting valuation and exemption rules: restaurants receive a 70% gross value exemption only if no Cenvat credit is claimed and service charges are included in taxable gross value while tips are excluded; short term accommodation is taxed based on a declared tariff definition with exemptions below the threshold and a 50% valuation concession absent Cenvat credit; life insurance taxation allows an option to tax the non investment premium portion or apply a prescribed valuation where no break up is provided. Circulars Service Tax Mon, 25 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8619