My firm is a manufacturing concern availing benefit of notification no. 12/2003 of Service Tax. Can anyone kindly let me know whether after introduction of negative list, whether the said notification will be still valid & can i still claim exemption on basis of that. If not, is there any new notification applicable to me.
03 July 2012
As per the available reports 12/2003 notn will be no longer valid, in view of the new valuation rules 2A. Official notn will be made available.
12 July 2012
According to notn No.34/2012-ST dt 20.06.12, the earlier notn 12/2003 has been omitted. Please see the valuation new rules 2A for maintenance contracts and other works contract.
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