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Taxmann announces release of ‘law Relating to Service Tax Based on Negative List’ by V.S. Datey. The book contains a comprehensive analysis of proposed provisions relating to taxation of services based on Negative List. Presently the scope of service tax is so vast that practically all services, except in education, medical treatment and statutory activities are subject to service tax. However, the definition of each service is often vague and broad. There are always disputes about taxability of a particular activity and also its classification in a particular taxable head. To get over the difficulties in defining a service, locating possible persons providing the service and administering the service tax, a new concept was floated last year, that of negative list of services. Negative List, basically means that all services, excluding those specified in negative list of services will be subject to service tax. Thus one has to only see whether the service he is providing is in negative list. If not, he is liable to pay service tax (subject to exemption limit of ` Ten lakhs available to small service providers. For more information http://www.goo.gl/dgBrR or call us at 011-45562222

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