Rice is not an agricultural produce
This query is : Resolved
17 February 2017
Why rice is not an agricultural produce?
17 February 2017
Section 65B(5) of the Finance Act, 2012, had excluded certain commodities including Rice from the earlier definition of agricultural produce, in their understanding Rice as an agricultural product continued to be exempt from the levy of Service Tax. However, they also indicated that they had sought a clarification from their Administrative Ministry and the Ministry of Finance on the correctness of their interpretation. -
17 February 2017
Rice is harvested from paddy and is hence not a direct agricultural produce.
17 February 2017
But processing/ milling of rice from paddy on job work basis is exempt from service tax levy vide Entry 30 of Mega Exemption Notification.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
