Announcement
for Final Examination applicable from May 2013 Examination onwards: Paper-8:
Indirect Tax Laws.
Service
tax law, as contained in the Finance Act, 1994, as amended by the Finance Act,
2012 is relevant for May and November, 2013 examinations. The Finance Act, 2012
has introduced the concept of negative list in the service tax law whereby all
services are liable to service tax except those covered under the negative list
and the exempted services. In other words, under the present law, the services
which would not be taxable have been specified as against the earlier law where
the individual taxable services were specified. Consequently, the practice of
notifying certain taxable services for Examination purposes (earlier thirty two
taxable services were so notified) would no longer be relevant.
Students
are advised to study Paper 8: Indirect tax laws from latest edition of the
Study Material which is the relevant for May and November, 2013 examinations.
Students having earlier editions of Study Material should refer to the
Supplementary Study Paper-2012 (Final) for being updated with the amendments
made vide the Finance Act, 2012.
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