Western India Regional Council of
The Institute of Chartered Accountants Of India

Law Update Details

 
January 2017 CA. Rajiv Luthia
 
SYNOPSIS OF NOTIFICATIONS, CIRCULARS & LETTERS

Central Government, vide Notification No. 50/2016-ST dated 22nd November, 2016, has amended Notification No. 20/2014-ST dated 16th September, 2014 whereby the Principal Commissioner, LTU, Bengaluru and the officers subordinate to him shall have the exclusive jurisdiction in case of online information and database access or retrieval services provided or agreed to be provided by a person located in non-taxable territory and received by a non-assessee online recipient.

Central Government, vide Notification No. 51/2016-ST dated 30th November, 2016, has amended Rule 2(q) of the Place of Provision of Service Rules, 2012 whereby the “telecommunication services”, defined under the said Rule, shall not include online information and database access or retrieval services.

Central Government, vide Notification No. 52/2016-ST dated 8th December, 2016, has inserted Entry No. 64 in Mega Exemption Notification No. 25/2012-ST dated 20th June, 2012 whereby exemption is granted to services by an acquiring bank, to any person in relation to settlement of an amount up to ' 2,000/- in a single transaction transacted through credit card, debit card, charge card or other payment card service. The term “acquiring bank” is defined under Explanation to the said Entry.

Central Government, vide Notification No. 53/2016-ST dated 19th December, 2016, has inserted proviso to Rule 4C(1) whereby a person located in non-taxable territory providing online information and database access or retrieval services to a non-assessee online recipient located in taxable territory may issue online invoices not authenticated by means of a digital signature for a period up to 31st January, 2017.

 

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