The CBEC has issued notifications bearing numbers 18/2012 to 23/2012 all dated 05.06.2012 whereby it has notified 1st July 2012 as the effective date for the implementation of the new negative list regime of service tax. The issuance of these notifications brings into effect all the changes proposed by the Union Budget 2012. Please find tabulated below the key changes and the effective dates of the respective changes. Further the detailed write up on major amendments is enclosed herewith.
Change
|
Effective Date
| |
1.
|
Introduction of Negative List of Services, Removal of Exemptions and Changes in Existing Exemptions
|
01.07.2012
|
2.
|
Changes in the Abatement Rates & Valuation Rules
|
01.07.2012
|
3.
|
New Place of Provision Rules, 2012
|
01.07.2012
|
4.
|
Additional Services under Reverse Charge Mechanism (Full/Partial)
|
01.07.2012
|
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