Budget 2019 proposes Retrospective exemption from service tax

Budget 2019 proposes Retrospective exemption from service tax on certain services

The services are:

1.) Service by way of grant of liquor licence by the State Government

2.) Long duration degree or diploma programmes except Executive Development Programme provided by the Indian Institutes of Management to the students during the period from the 1st day of July, 2003 up to the 31st day of March, 2016.

3.) Upfront amount paid for services by way of grant of long term lease of plots for development of infrastructure for financial business by the State Government Industrial Development Corporations or Undertakings or by any other entity having fifty per cent. or more ownership of the Central Government or State Government or Union territory, directly or through an entity which is wholly owned by such Governments, to the developers in the industrial or financial business area, during the period from the 1st day of October, 2013 up to the 30th day of June, 2017.

Source : Clause 116, 117 and 118 of THE FINANCE (NO.2) BILL, 2019.