We all know that it is very tough to remember all the 17 heads of services mentioned in the Negative List of Service Tax, isn’t it? And why try to mug-up the hard way when there is a better alternative. So, here is a very good trick or method (especially for CA and CS students) to remember all the heads of services in the Negative List with ease!
Shortcut To Remember The Negative List Of Service Tax Using The Alphabetical Method:
(Amended by the Finance Act, 2014)
A – Advertisement (only print media)
B – Bridges
C – Cabs – means transportation of passengers (radio taxi excluded)
D – Diplomatic mission (embassy)
E – Electricity
F – Funeral (includes transportation of the deceased)
G – Goods’ transportation
H – House Residential
I – Interest (banking, financial, insurance)
J – Journey (payment of toll charges)
K – “Kheti” (it is a Hindi word which means agriculture)
L – Lottery (betting, gambling)
M – Manufacture (on which excise duty is payable)
N ———- O ———- P
Q – Qualification (referring to education)
R – Reserve Bank of India (RBI)
S – “Sarkaar” (it is a Hindi word which means government)
T – Trading of goods
As you can see, all the heads of services in the Negative List are beautifully embedded into this memory technique. Just read this five to six times with focus and you will not forget even one of the heads, I can promise you that! This trick will be very beneficial for my fellow CA IPCC students, CA FINAL students as well as all other students studying taxation. But before learning this trick by heart, please compare it with the latest original Negative List of Service Tax and make necessary modifications in the trick just in case there are any major changes made by the amendments.
Note: If you found this very useful, you might also find our post on Quick Revision of VAT worth reading.
Comment on this post if you have any other tricks that might help the students. Also, share this post with your best friends so that they can benefit as well! Remember guys and gals, sharing is caring.