FinMin exempts 14 more services from service tax

The finance ministry announced exemption for 14 more services from service tax payment by including them in the negative list effective July 1

Written by ENS Economic Bureau | New Delhi | Published: June 21, 2012 1:03:16 am

The finance ministry today announced exemption for 14 more services from service tax payment by including them in the negative list effective July 1.

With the inclusion of these 14 services including companies engaged in construction of metro projects,entities providing public convenience and advocates with turnover of up to Rs 10 lakh,38 services are now specified in the negative list.

The new exemptions include support services from sectors like formal education,construction works under the JNNURM and Rajiv AwasYojna,repairs and maintenance of aircrafts to government,services provided by sub-contractors to the main contractors who are exempt,services by public libraries and Employees State Insurance Corporation,and services by way of public conveniences and sale of going concerns.Services not on the list will be charged 12 per cent service tax.

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