| Effective rates under the Reverse Charge Notification No. 30/2012-ST dated June 20, 2012 w.e.f June 1, 2016 | |||||
| Sl. No | Description of a service | Effective rate of ST payable by the SP & SR:
Before 01.6.2016 (%) |
Effective rate of ST payable by the SP & SR:
On or After 01.6.2016 (%) |
||
| 1 | Services provided or agreed to be provided by an insurance agent to any person carrying on insurance business | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 1A | Services provided or agreed to be provided by a recovery agent to a banking company or a financial institution or a non-banking financial company | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 1B | Services provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset management company | Omitted vide NN 18/2016-ST dated 01.03.2016 (w.e.f 01.04.2016
From 15.11.2015 to 31.03.2016: SP: Nil SR: 14.5 |
NA | ||
| 1C | Services provided or agreed to be provided by a selling or marketing agent of lottery tickets to a lottery distributor or selling agent of the State Government | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 2 | Services of goods transport agency in relation to transportation of goods other than used household goods. | After availment of 70% abatement:
SP: Nil SR: 4.35 |
After availment of 70% abatement:
SP: Nil SR: 4.5 |
||
| 3 | Services provided or agreed to be provided by way of sponsorship to any body corporate or partnership firm located in the taxable territory | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 4 | Services provided or agreed to be provided by an arbitral tribunal | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 5 | Entry amended vide NN 18/2016-ST dated 01.03.2016, w.e.f 01.04.2016 to bring legal services provided by a senior advocate under forward charge | ||||
| Prior to 01.04.2016: Services provided or agreed to be provided by individual advocate or a firm of advocates by way of legal services | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
|||
| Post 01.04.2016: Services provided or agreed to be provided by a firm of advocates or an individual advocate other than a senior advocate by way of legal services | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
|||
| 5A | 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 | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 6 | Any Services (w.e.f. 01.04.2016)/ Support services (till 31.03.2016) provided or agreed to be provided by Government or local authority excluding,- (1) renting of immovable property, and (2) services specified in sub-clauses (i), (ii) and (iii) of clause (a) of Section 66D of the Finance Act | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 7 | (a) Services provided or agreed to be provided by way of renting of a motor vehicle designed to carry passengers on abated value to any person who is not engaged in the similar line of business | After availment of 60% abatement:
SP: Nil SR: 5.8 |
After availment of 60% abatement:
SP: Nil SR: 6
|
||
| (b) Services provided or agreed to be provided by way of renting of a motor vehicle designed to carry passengers on non-abated value to any person who is not engaged in the similar line of business | Without availment of 60% abatement:
SP:7.25 SR:7.25 |
Without availment of 60% abatement:
SP: 7.5 SR: 7.5 |
|||
| SP: Any individual, Hindu Undivided Family or partnership firm, whether registered or not, including association of persons, located in the taxable territory
SR: Business entity registered as body corporate, located in the taxable territory |
|||||
| 8 | Services provided or agreed to be provided by way of supply of manpower for any purpose or security services | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| SP: Any individual, Hindu Undivided Family or partnership firm, whether registered or not, including association of persons, located in the taxable territory
SR: Business entity registered as body corporate, located in the taxable territory |
|||||
| 9 | Services provided or agreed to be provided in service portion in execution of works contract: | ||||
| In case of Original work
|
SP: 2.9
SR: 2.9
|
SP: 3
SR: 3
|
|||
| In all other cases | SP: 5.075
SR: 5.075 |
SP: 5.25
SR: 5.25 |
|||
| SP: Any individual, Hindu Undivided Family or partnership firm, whether registered or not, including association of persons, located in the taxable territory
SR: Business entity registered as body corporate, located in the taxable territory |
|||||
| 10 | Any taxable services provided or agreed to be provided by any person who is located in a non-taxable territory and received by any person located in the taxable territory | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
| 11 | Any service provided or agreed to be provided by a person involving an aggregator in any manner | SP: Nil
SR: 14.5 |
SP: Nil
SR: 15 |
||
Hope the information will assist you in your Professional endeavors. In case of any query/ information, please do not hesitate to write back to us.
Thanks & Best Regards
Bimal Jain
FCA, FCS, LLB, B.Com (Hons)
Author of a book on Goods and Services Tax, titled, “GOODS AND SERVICES TAX – INTRODUCTION AND WAY FORWARD” (1st Edition)
A2Z TAXCORP LLP
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