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August 2013

Indirect Taxes

By Tarun Ghia, Pratik Mehta, Brijesh Cholera, Chartered Accountants
Reading Time 1 mins
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SERVICE TAX UPDATE
Reg. Exemption for services provided in SEZ for authorised operations

61. Notification No. 12/2013 – Service Tax dated 01-07-2013

This notification has been issued in supersession of earlier Notification No. 40/2012 dated 20th June, 2012 to provide exemption from whole of the service tax for services provided to SEZ unit or Developer of SEZ and used for authorised operations. This exemption shall be provided either by way of refund of service tax paid on the specified services received by the SEZ Unit for the authorised operations or ab initio exemption to the person liable to pay service tax subject to the conditions and procedures prescribed in detail in the said notification. SEZ Unit has also been given the option not to avail the exemption under this notification and instead take CENVAT credit on the specified services in accordance with the CENVAT Credit Rules, 2004.

MVAT UPDATE

62. Amendments to the Maharashtra Value Added Tax Act, 2002. Trade Circular 4T of 2013 dated 26-06-2013

In this circular, the Commissioner has briefly explained the salient features of the amendments in the MVAT Act, 2002 by Maharashtra Act No. VIII of 2013 dated 20-04-2013. 

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