SERVICE TAX

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....ted. However, the same entry is being placed in exemption notification No. 25/2012-Service Tax dated 20th June, 2012. Consequently, the definition of 'process amounting to manufacture' [clause (40) section 65B] is also proposed to be omitted from the Finance Act, 1994 and is being incorporated in the general exemption notification. (Clauses 120 & 121 of the Bill refers) Nil Nil 2. Serv....

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....g-term lease of industrial plots (30 years or more) by State Government industrial development corporations/undertakings to industrial units from Service Tax (Clause 127 of the Bill refers). 14% Nil 4. Rule 2 A of Service Tax (Determination of Value) Rules, 2006 is being amended with effect from 01.07.2010 so as to make it clear that value of service portion in execution of works contr....

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....and five hundred to rupees ten thousand on the lines of the Central Excise Act.  [124]   8. Sub-section (6) of section 96D is being amended so as to provide time limit of six months by which Authority shall pronounce its ruling on the lines of the Central Excise Act.  [125]   9. A new section 96HA is being inserted so as to provide for transferring the p....

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....t the word "residential" appearing in the notification. The exemption remains the same in all other respects. S. No. 9B of notification No. 25/2012-ST exempts services provided by Indian Institutes of Management (IIMs) by way of two year full time residential Post Graduate Programmes (PGP) in Management for the Post Graduate Diploma in Management (PGDM), to which admissions are made on the basis o....