Exempts taxable services provided by a Technology Business Incubator (TBI) or Science and Technology Entrepreneurship Park (STEP), the National Science and Technology Entrepreneurship Development Board (NSTEDB) and Department of Science and Technology

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.... Dated 20/06/2012 Exempts taxable services provided by a Technology Business Incubator (TBI) or Science and Technology Entrepreneurship Park (STEP), the National Science and Technology Entrepreneurship Development Board (NSTEDB) and Department of Science and Technology New Delhi, the 1st March, 2007 10 Phalguna, 1928 (Saka) Notification No. 10/2007-Service Tax [Corrected by corrigen....

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....emption contained in this notification shall apply subject to the following conditions, namely:- (i)  the entrepreneur enters into an agreement with the TBI or the STEP as  an incubatee, to enable himself to develop and produce hi-tech and innovative products; and (ii) the total business turnover of such entrepreneur does not exceed fifty lakh rupees during the ^1previous fina....