Services Provided by Govt. or Local Authority to Business Entity having Turnover of upto Rs. 10 Lacs Exempted
GoI amends Mega Exemption Notification by inserting new entry of services provided by Government or a local authority to a business entity having turnover upto Rs. 10 Lacs in the preceding financial year, as under:
CBEC Notification No. 7/2016 Service Tax dt. 18 Feb. 2016
In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No.25/2012-Service Tax, dated the 20th June, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 467 (E), dated the 20th June, 2012, namely:-
1. In the said notification, in the opening paragraph,
(i) after entry No. 47, the following shall be inserted, namely-
(48) Services provided by Government or a local authority to a business entity with a turnover up to rupees ten lakh in the preceding financial year.
2. The amendment shall come into effect on 1st April, 2016.
Note:- The principal notification was published in the Gazette of India, Extraordinary, by notification No. 25/2012 – Service Tax, dated the 20th June, 2012, vide number G.S.R. 467 (E), dated the 20th June, 2012 and last amended by notification No.20/2015 – Service Tax, dated the 21st October, 2015 vide number G.S.R. 799(E), dated the 21st October, 2015.