As per the Finance Bill, 2012, there have been vast changes in the taxation provisions relating to Service Tax. The regime has moved from earlier practice of levying the service tax on defined services. As per the new provisions, services of all types unless these have been specifically exempted in the negative list. As a result, domain name registrations, renewals, transfer-ins attract 12.36% Service Tax effective from 1st July 2012. This is also applicable to digital certificates and any other services unless they come under the negative list.


Saturday, June 30, 2012

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