As an effective step towards unified Goods and Service Tax (GST) regime, the Negative List regime of taxation of services was introduced by the Central Government via the Finance Act, 2012, with effect from 1-7-2012. Under this regime, all services, other than those specified under the Negative List within the meaning of section 66D of the Finance Act, 1994 or those specifically exempted under Notification No. 25/2012-ST, dt. 20-6-2012 (Mega Exemption Notification), are chargeable to service tax.
Presently, the scope of levy of service tax is not confined to 119 taxable services alone which were specified under sub-clause (105) of section 65 of the Finance Act, 1994, but rather it extends to each and every activity that satisfies the criteria of being a service within the meaning of clause (44) of section 65B of the Act, subject, however, to the Negative List and specified exemptions.
The major difference between the erstwhile Positive List approach to Taxation of Services and the current Negative List approach is the burden of proof with regard to the service tax liability. Under the former, the Departmental officials were required to justify that the activity of the concerned assessee fell within the meaning of a particular taxable service specified under any of the sub-clauses of clause (105) of section 65 of the Act. Contrary to this, under the new regime, each and every service is chargeable to service tax unless the assessee proves that the service in question is included either within the Negative List or is specifically covered by the Notification No. 25/2012-ST, dt. 20-6-2012.
The present edition of the Book is a thoroughly updated version, based on the amendments brought about by the Finance Act, 2016, following a new approach altogether providing inter alia an overview of the scope and ambit of almost all taxable services mentioned in the Negative List under section 66D, Declared Services List under section 66E and the Exempted Services specified under Notification No. 25/2012-ST, dt. 20-6-2012. The relevant extracts from the Taxation of Services : An Education Guide, issued by CBEC on 20-6-2012 are also incorporated within the text at related places, in order to enrich the book even with an authentic and practical commentary on the various topics covered in the book.
This Service Tax Ready Reckoner with Working Commentary is an all in one must have facility for service tax practitioners as well as assessees. Contentwise it provides almost everything of interest, besides conforming to the highest standards of accuracy, authenticity and thoroughness, all at a most competitive price. It deals at length with totality of the legal and procedural aspects pertaining to service tax. The book is also unique in the sense that each and every provision relating to the law, practice and procedure has been analyzed at its appropriate place with due care and diligence and the same is followed by a concise, but to-the-point, working commentary in separate chapters dealing inter aliawith practice-specific issues, duly supported by case law as and where needed.
All the amendments brought about by the Finance Act, 2016 and collateral sources, have been duly incorporated at relevant places. Further, the book also covers gists of Notifications, Circulars, etc. as available up to 15 May, 2016. In addition, ratios and implications of the select and important case law as available till 1 April, 2016 have also been incorporated at the relevant places, making this product a fulfilling experience for consultants as well as assessees.
The exclusive feature of this product is that all necessary statutory, procedural and if needed, even case law updates will be made available for whole of 2016, thereby ensuring day-to-day contentwise freshness of this product till 2016 end on all counts by authors themselves.
This book has thoughtfully been divided into Six Major Parts comprising as many as 90 chapters to help readers reach and appreciate the desired subject-matter conveniently.
Part I titled Service Tax Referencer presents a birds eye view of practically the entire scheme of the service tax law and procedure in minimum possible words, along with self-explanatory and practice-aiding tables.
Part III takes full care of the procedural requirements relevant to service tax practice. e-procedures under the service tax, like e-registration, e-payment of service tax and e-filing of service tax returns in its various chapters.
Part IV provides an in depth insight into the entire scheme of availment and utilisation of Cenvat credit in regard to input, input service and capital goods used by a service provider during the course of providing any taxable service.
Part V titled Audit, Assessment, Adjudication and Redressel Mechanism is devoted to an authentic commentary on Service Tax Assessments and Adjudication proceedings. The law and procedure concerning Rectification of Mistake, Appeals to various Appellate Authorities and High Courts, Compounding of Offences, Settlement of Service Tax Cases and Advance Rulings are also dealt with in this Part.
Part VI provides an overview of the provisions relating to taxability or otherwise, determination of value, as well as abatements in regard to as many as 40 important taxable services finding specific mention in the Negative List under section 66D, the Declared Services list under section 66E and the Mega Exemption Notification No. 25/2012-ST, dt. 20-6-2012. The related chapters provide accurate and precise information covering all traversable areas for all categories of service tax assessees.
The icing on the cake is the as of now availability of (i) Service Tax Statutory Provisions, Rules and Regulations as amended post Finance Act, 2016, (ii) all Notifications, Orders, Circulars, Letters, etc. referred to in the Book, together with (iii) Full Reports of the case law cited in the book via the reader specific Website Address provided at page (iii) in the beginning of the book. The readers will continue to find regular updations also therethrough over the entire 2016.
Notwithstanding the best of care, likelihood of certain short-comings creeping into cannot be ruled out. We solicit creative feedback from our learned readers bringing to our
Dr. Avadhesh Ojha, Dr. Shrikant Ojha