https://www.taxtmi.com/news?id=3479 A policy shift adopts a negative list approach to taxation of services, replacing the prior positive-list model and aligning service taxation with the broader objective of moving the economy closer to implementation of Goods and Services Tax. The Guidance Paper explains the scope and mechanics of the new approach, emphasizes simplification of compliance and administration rather than revenue augmentation, and the announcement expands the central exemption notification to add specified categories including advocates, educational services, services to government and governmental authorities, certain works contracts, transport by ropeway, subcontracted works contracts, services in non-taxable territories, public libraries, ESIC services, transfer of a going concern, and public conveniences. en-us Mon, 25 Jun 2012 10:30:59 +0530 Thu, 05 Feb 2015 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=3479 A policy shift adopts a negative list approach to taxation of services, replacing the prior positive-list model and aligning service taxation with the broader objective of moving the economy closer to implementation of Goods and Services Tax. The Guidance Paper explains the scope and mechanics of the new approach, emphasizes simplification of compliance and administration rather than revenue augmentation, and the announcement expands the central exemption notification to add specified categories including advocates, educational services, services to government and governmental authorities, certain works contracts, transport by ropeway, subcontracted works contracts, services in non-taxable territories, public libraries, ESIC services, transfer of a going concern, and public conveniences. News - Mon, 25 Jun 2012 10:30:59 +0530 https://www.taxtmi.com/news?id=3479