Wednesday, October 31, 2012

Service Tax :-What are the statutes governing the taxation relating to Service Tax?

The Statutes governing the levy of Service Tax are as follows:

(i) The Finance Act, 1994 - Chapter V - Section 64 to 96 I. (Also referred to as „Act‟ in this book). This chapter extends to the whole of India except the State of Jammu and Kashmir.

(ii) The Finance Act, 2004 Chapter VI - for levy of Education Cess @ 2% on the Service Tax.

(iii) The Finance Act, 2007 – for levy of Secondary and Higher Education Cess of 1% on Service tax.

(iv) The Service Tax Rules, 1994. (Also referred to as „Rules‟ or „STR,1994‟ in this book).

(v) The CENVAT Credit Rules, 2004.

(vi) The Export of Service Rules, 2005.

(vii) The Service Tax (Registration of Special categories of persons) Rules, 2005.

(viii) The Taxation of Services (Provided from Outside India and Received in India) Rules, 2006 (with effect from 19th April, 2006) – Notification No. 11/2006-ST dated 19.4.2006 as amended vide Notfn.No.31/2007 – ST dated 22.05.2007.

(ix) The Service Tax (Determination of Value) Rules, 2006 (with effect from 19th April, 2006) – Notification No. 12/2006-ST dated 19.4.2006 as amended vide Notfn.No.24/2006 – ST dated 27.06.2006 and Notfn.No.29/2007-ST, dated 22.05.2007.

(x) Works Contract (Composition Scheme for Payment of Service Tax) Rules, 2007-Notification No. 32/2007-Service Tax dated 22nd May,  2007, as amended by Notification No. 07/2008-St dated 1st March, 2008.

(xi) Service Tax (Removal of Difficulty) Order, 2010 effective from 22.6.2010.

(xii) Point of Taxation Rules 2011.


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