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Seeks to amend the notification No.30/2012-ST dated 20th June,2012, so as to prescribe, the extent of service tax payable by the service provider and the recipient of service, for certain specified services.
July, 24th 2014
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II,
SECTION 3, SUB-SECTION (i)]
                              Government of India
                              Ministry of Finance
                            (Department of Revenue)

                                        Notification
                                   No.10/2014-Service Tax
                                                                New Delhi, the 11th July, 2014

       G.S.R...... (E).- In exercise of the powers conferred by sub-section (2) of section 68 of
 the Finance Act, 1994 (32 of 1994), the Central Government, hereby makes the following
 further amendments in the notification of the Government of India in the Ministry of
 Finance (Department of Revenue) No. 30/2012-Service Tax, dated the 20th June, 2012,
 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide
 number G.S.R. 472 (E), dated the 20th June, 2012, namely:-

 1. In the said notification,­
 (i) in paragraph I, in clause (A),­

      (a) after sub-clause (i), the following sub-clause shall be inserted, namely:-

            "(ia) provided or agreed to be provided by a recovery agent to a banking
            company or a financial institution or a non-banking financial company;";

      (b) for sub-clause (iva), the following sub-clause shall be substituted, namely :-

            "(iva) provided or agreed to be provided by a director of a company or a body
            corporate to the said company or the body corporate;";




(ii) in paragraph II, in the TABLE,­

      (a) for all the headings of the columns, the following shall respectively be substituted
      namely:-



         " Sl.No    Description of a service       Percentage        of    Percentage of service
                                                   service tax payable     tax payable by the
                                                   by     the   person     person receiving the
                                                   providing service       service
            (1)                  (2)                        (3)                    (4)";

      (b)   after serial number 1 and the entries relating thereto, the following serial
      number and entries shall be inserted, namely:-
       "1A.       in respect of services Nil                          100%";
                  provided or agreed to be
                  provided by a recovery
                  agent to a banking company
                  or a financial institution or a
                  non-banking           financial
                  company

     (c) against serial number 5A of column (1) , for the entries in column (2), the
     following entry shall be substituted namely:-

      "in respect of services provided or agreed to be provided by a director of a company
     or a body corporate to the said company or the body corporate";

     (d) in serial number 7, against item (b), in columns (3) and (4), for the existing
     entries, the entries "50%" and "50%" shall respectively be substituted with effect
     from the 1st day of October, 2014.

2. Save as otherwise provided herein, this notification shall come into force on the 11th
day of July, 2014.




                                                              [F.No. 334 /15/ 2014-TRU]


                                                                          (Akshay Joshi)
                                              Under Secretary to the Government of India

Note.- The principal notification was published in the Gazette of India, Extraordinary, by
notification No. 30/2012 - Service Tax, dated the 20th June, 2012, vide number G.S.R. 472
(E), dated the 20th June, 2012 and last amended by notification No. 45/2012-Service Tax,
dated the 7th August, 2012 vide number G.S.R. 621 (E), dated the 7th August, 2012

 
 
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