Loading, Unloading,
Packing, Storage and Warehousing of Rice also Exempted from Service Tax; Cord Blood Banks also get the
Same Relief
Finance Minister, Shri P. Chidambaram has
proposed to exempt loading, unloading, packing, storage and warehousing of rice
from service tax. Stating this while presenting the Interim Budget 2014-15 in
Parliament here today he said that by virtue of the definition of ‘agricultural
produce’ in Finance Act, 2012, read with the Negative List, storage or
warehousing of Paddy was excluded from the levy of service tax; but rice was
not. As this distinction was somewhat artificial, the same has been done away
with and now rice has also been exempted.
Shri P. Chidambaram said that he has acceded to the request of the Ministry of Health and Family Welfare that services provided by Cord Blood Banks are also health care services and hence they should also be exempt from service tax.
Notifications in respect of the above changes will be issued today itself.
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