IPCC Service Tax Amendments Nov 2017

CA IPCC Service Tax Amendments for Nov 2017 are quite high in number this time. The Nov 2017 Amendments in Service Tax are listed out below by CA.Gautam Agrawal. Below, we have listed out the applicable amendments in Service Tax Syllabus for Nov 2017 and also provided a PDF file for revision.

Students must note that, Nov 2017 Amendments are very important exam point of view. From the words of the CA IPCC Topper, ICAI mostly asks questions in IPCC Tax Exam based on the latest amendments in the syllabus only.

We recommend students to follow this Study Plan to score good marks in the exams. We also provided many revision notes in Tax for CA IPCC students. CA IPCC Service Tax is one of the important chapters in the entire Tax Syllabus. Study carefully the Service Tax Amendments for Nov 2017 listed below.

CA IPCC Service Tax Amendments Nov 2017

The Amendments in Service Tax part are in the following parts of syllabus:

  1. Service Tax Rate has changed. The applicable rate of service tax for CA IPCC November 2016 exams is 14.5% (Including the SBC)
  2. Amendment in Taxable Territory for Service Tax
  3. New Amendment in Services provided by Government or a Local Authority.
  4. Payment of Service Tax has seen some new amendments.
  5. There is an Amendment in Rule 6, Valuation of Services where services are provided by the Government.
  6. Amendment in ‘Transport of Passengers’.

All the above mentioned CA IPCC Service Tax Amendments for Nov 2016 & Nov 2017 have been clearly explained in the following Document. The following file contains all the Service Tax Amendments and also explanation of the each amendment in simple language.

Service Tax Amendments Nov 2017


Amendment in Mega Exemption – Service Tax Nov 2017

Services provided by IIM [entry no 9B] w.e.f. 1-3-2016 (Imp Amendment from Nov 2016 & Nov 2017 exams on wards) Services provided by the Indian Institutes of Management, as per the guidelines of the Central Government, to their students, by way of the following educational programmes, except Executive Development Programme, –

(a) two year full time residential Post Graduate Programmes in Management for the Post Graduate Diploma in Management, to which admissions are made on the basis of Common Admission Test (CAT), conducted by Indian Institute of Management;

(b) fellow programme in Management;

(c) five year integrated programme in Management

Folk Artists – IPCC Service Tax Amendments Nov 2017

Services by a performing artist in folk or classical art forms of (i) music, or (ii) dance, or (iii) theatre where amount charged is upto Rs.1,50,000 per performance. w.e.f. 1-4-2016 limit enhanced from 1,00,000 to 1,50,000. [for Nov 2016 & Nov 2017/ Dec 2016 and 2017 attempt]

However services provided by such artist as a brand ambassador is taxable without any monetary limit.

Note : Brand ambassador means a person engaged for promotion or marketing of a brand of goods, service, property or actionable claim, event or endorsement of name, including a trade name, logo or house mark of any person.

Section 66D – IPCC Service Tax Amendments Nov 2017

Services provided by Government or a local authority where the gross amount charged for such services does not exceed Rs.5000/- Provided that nothing contained in this entry shall apply to services specified in sub-clauses (i), (ii) and (iii) of clause (a) of section 66D of the Finance Act, 1994.

Provided further that in case where continuous supply of service, as defined in clause (c) of rule 2 of the Point of Taxation Rules, 2011, is provided by the Government or a local authority, the exemption shall apply only where the gross amount charged for such service does not exceed Rs.5000/- in a financial year.