Service tax retrospective exemptions expanded to specified state licence fees, select IIM programmes, and upfront lease consideration. The Finance (No. 2) Bill, 2019 proposes retrospective Service Tax exemptions: (i) State Government consideration for grant of liquor licences for 1 April ... Summary
Service tax retrospective exemptions expanded to specified state licence fees, select IIM programmes, and upfront lease consideration.
The Finance (No. 2) Bill, 2019 proposes retrospective Service Tax exemptions: (i) State Government consideration for grant of liquor licences for 1 April 2016-30 June 2017; (ii) specified Indian Institutes of Management educational programmes (excluding Executive Development Programmes) for 1 July 2003-31 March 2016; and (iii) upfront amounts paid for long term (thirty years or more) leases of development plots by State industrial/majority government entities for 1 October 2013-30 June 2017.
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