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29 Aug 2014

Amendments in Negative List applicable w.e.f. 1st October, 2014

As you know, Finance (No. 2) Act 2014 had proposed certain changes in Negative List which were to be applicable from a future date to be notified. These changes have now been effected from 1st October, 2014 vide Notification No. 18/2014-ST dated 25th August, 2014.

Consequent to the efficacy of the notification, following shall be the impact.

Service Tax will be applicable on:

Radio Taxi (the abatement presently available to rent-a-cab service would also be made available to radio taxi service, to bring them on par); and Advertisements in internet websites, out-of-home media, on film screen in theatres, bill boards, conveyances, buildings, cell phones, Automated Teller Machines, tickets, commercial publications, aerial advertising, etc. (sale of space for advertisements in newspapers, book other than business directories/yellow pages/trade catalogues would continue to be non-taxable)