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October 2010

Classification of New Services notified through Finance Act, 2010 under Export of Services Rules, 2005 — Circular No. 129/11/2010-ST, dated 21-9-2010

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Brijesh Cholera, Pratik Mehta | Chartered Accountants
Sejal Vasa | Company Secretary
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Part B : INDIRECT TAXES


SERVICE TAX UPDATE

15 Classification of New
Services notified through Finance Act, 2010 under Export of Services Rules, 2005
— Circular No. 129/11/2010-ST, dated 21-9-2010.

To resolve the doubts raised
by the service tax payers regarding classification of new services introduced by
the Finance Act, 2010, the CBEC has clarified that all the new services shall
fall in category 3(iii) of the Export of Services Rules, 2005 and Taxation of
Services (Provided from Outside India and Received in India) Rules, 2006
popularly known as Import Rules, 2006. Consequently for services to be
classified as an eligible export, the same must be provided to a service
recipient located outside India and for services to be classified as import of
service the same must be provided from outside India to a service recipient
located in India.

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