Which service is included in the negative list?

Negative list of Services

• services by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services provided to a person other than Government;
• services in relation to an aircraft or a vessel, inside or outside the precincts of a port or an airport;

How many services are in negative supply?

At present 117 services were included in the service tax net. More number of services that may be included in future….

What is negative list under GST?

Negative list under GST. Services by employee to employer in the course/ relation to employment. Services of funeral, burial, crematorium or mortuary. Sale of land. Sale of completed buildings.

Which of the following is not included in the negative list of service tax?

As per sub-clause (i) of clause (a) of section 66D services provided by the Department of Posts by way of speed post, express parcel post, life insurance, and agency services carried out on payment of commission on non government business are excluded from the negative list.

Who is liable for service tax?

service provider
Generally, the liability to pay service tax has been placed on the ‘service provider’. However, in respect of the taxable services notified under Sec. 68(2) of the Finance Act,1994, the service tax shall be paid by such person and in such manner as may be prescribed at the rate specified in Sec.

Which of the following is not included in the negative list of service tax *?

However, note that sale of space for advertisement in only print media is covered i.e. advertisement in radio/television/canvassing are not covered in negative list. Also note that auxillary services like preparation/making of advertisement are outside the ambit of negative list and will be liable to service tax.

What is negative list?

The term negative list is used to define industries in which foreign companies cannot invest and specifies restrictions or bans on certain types of foreign investment.

On which services GST is not applicable?

All the services related to agriculture including harvesting, cultivation, supply, packaging, warehouse, renting or leasing of machinery, etc. are exempted from GST. However, this does not include the rearing of horses. Transportation of individuals via public transport, metered cabs, auto-rickshaws, metro, etc.

Is electricity a service or goods?

Electricity is movable property though it is not tangible. It is goods which finds a mention in both Central Excise and Customs Tariff Act under the Tariff item no. 2716 00 00 and the description of the same in the tariff is ‘Electrical Energy’.

What do you mean by zero tax negative list?

Negative list of services means that all services, excluding those specified in negative list will be subject to service tax. However, in addition to items included in negative list, there will be exemptions, abatements and composition schemes as issued by the CBEC from time to time.

Is the negative list of services taxable in India?

While the negative list of services is not taxable at all. They will not be subject to service tax, and all other services that fall in the definition of ‘services’ will be taxable. In the year 2015-2016, revenue generation for the Indian government through service tax was Rs. 211456 crores.

What does a negative list of services mean?

A negative list of services under service tax implies two things: (1) a list of services which will not be subject to service tax; (2) other than the services mentioned in the negative list, all services will be taxable which fall within the definition of ‘services’.

How are negative services different from exempt services?

Negative List of Services are different from the exempt Services as exempt services are although taxable but government has exempted them from service tax, while services in Negative list are not taxable at all. (Please Note Only specific services such as speed post etc are liable to Service Tax.

Which is excluded from service tax negative list?

(ii) The entry in the Negative List that covers service by way of any process amounting to manufacture or production of goods [section 66D (f)] is being pruned to exclude any service by way of carrying out any processes for production or manufacture of alcoholic liquor for human consumption.