|
Section |
Gist
of amendment |
|
65(3) |
The
references to ‘commercial concern’, is
substituted with ‘person’ so as to enlarge
the scope of service provider |
|
65(3b) |
Definition
amended to include transport of goods
or passengers by any person |
|
65(7a) |
“auction
of property” defined |
|
65(9a) |
“automated
teller machine” defined. |
|
65(9b) |
“automated
teller machine operations, maintenance
or management service” defined |
|
65(9c) |
“banker
to an issue” defined |
|
65(12a) |
The
references to ‘commercial concern’, is
substituted with ‘any other person’ so
as to enlarge the scope of service provider |
|
65(12a)(ii) |
Reference
to "credit card services" under
the definition of banking and other financial
services is omitted, in view of specific
individually created credit card, debit
card, charge card or other payment card
service under taxable services; |
|
65(12a)(viii) |
Definition
included "banker to an issue services"
to include services provided as banker
to an issue. |
|
65(12a)(ix) |
The
scope of Clause viii has been extened
and reincluded as to include services
like transfer of money through different
modes, such as telegraphic transfer, mail
transfer and electronic transfer, by any
person. |
|
65(19)
Explanation b |
The
references to 'developing or maintaining
of computer software, or computerised
data processing', is substituted with
'developing of computer software' to resize
the scope of 'Information technology service'. |
|
65(31) |
The
references to 'engineering form', is substituted
with 'any body corporate or any other
firm', so as to include engineering consultancy
services provided by any firm or body
corporate. |
|
65(33) |
The
references to ‘commercial concern’, is
substituted with ‘any person’ so as to
enlarge the scope of service provider |
|
65(33a) |
“credit
card, debit card, charge card or other
payment card service” is defined. |
|
65(34) |
The
references to ‘commercial concern’, is
substituted with ‘person’ so as to enlarge
the scope of service provider |
|
65(39a)(i) |
The
references to 'machinery or equipment'
is substituted with 'machinery, equipment
or structures, whether pre-fabricated
or otherwise” so as to enlarge the scope
of definition. |
|
65(50b) |
The
references to 'commercial concern which'
is substituted with 'person who' to expand
the scope of definition, |
|
65(56a) |
"International
journey'' is defined in relation to respective
taxable services. |
|
65(56b) |
"Internet''
is defined in relation to respective taxable
services. |
|
65(57a) |
"Internet
Telephony'' is defined in relation to
respective taxable services. |
|
65(58) |
The
references to 'in India' is substituted
with “and includes a re-insurer” so as
to include, services provided to a policy
holder or any person by an insurer, including
a re-insurer. |
|
65(59a) |
"Issue''
is defined relation to respective taxable
services. |
|
65(64) |
The
references to "maintenance or repair'',
is substituted with ''management, maintenance
or repair" as to include management
of movable property |
|
65(65) |
The
references to “relating to conceptualising,
devising, development, modification, rectification
or upgradation of any working system of
any organisation” is substituted with
“in relation to financial management,
human resources management, marketing
management, production management, logistics
management, procurement and management
of information technology resources or
other similar areas of management” as
to specifically mention, consultancy in
different areas of management. |
|
65(68) |
The
references to "commercial concern"
is substitued with "person"
as to enlarge the scope of service provider. |
|
65(69) |
The
references to "commercial concern"
is substitued with "person"
as to enlarge the scope of service provider. |
|
65(77c) |
"passenger"
is defined in relation to respective taxable
services. |
|
65(79) |
The
references for the word “a commercial
concern” is substituted with “any person”
as to enlarge the scope of Photography
services. |
|
65(86b) |
The
references to “a commercial concern which’’
is substitued with “any person who” so
as to expand the scope of Programme production
for TV or radio services |
|
65(86c) |
“public
relations” is defined in relation to respective
taxable services. |
|
65(89c) |
“registrar
to an issue” is defined in relation to
respective taxable services. |
|
65(94) |
The
references to “commercial concern” is
substituted with "person" as
to enlarge the scope of Security and investigation
services |
|
65(95a) |
“share
transfer agent” is defined to specify
the scope of share transfer agent; |
|
65(96a) |
“ship
management service” is defined to specify
the scope of ship management service; |
|
65(99) |
The
references to "commercial concern"
is substitued with "person"
as to expand the scope of Sound recording
and ancillary services |
|
65(99a) |
“sponsorship”
is defined to specify sponsorship services. |
|
65(104c) |
“support
services of business or commerce” is defined
with Explanation to specify the scope
of support services of business or commerce; |
|
65(105) |
The
references to “policy holder” wherever
they occurs is substitued with "Policy
holder or any person" as to expand
the scope of service provider. |
|
65(105) |
The
references to “insurer” wherever they
occurs is substitued with “insurer, including
re-insurer” as to expand the scope of
service provider. |
|
65(105)(zc) |
The
references to "commercial concern"
is substitued with "person"
as to the enlarge the scope of definition. |
|
65(105)(zh) |
The
references to "a commercial concern"
is substitued with "any person"
as to the enlarge the scope of definition. |
|
65(105)(zm) |
The
references to "commercial concern"
is substitued with "any other person"
as to the enlarge the scope of definition, |
|
65(105)(zzb) |
The
references to "a commercial concern"
is substitued with "any person"
as to the enlarge the scope of definition. |
|
65(105)(zzg) |
The
references to "maintenance or repair'',
is substituted with ''management, maintenance
or repair" as to include management
services. |
|
65(105)(zzq) |
The
references to "a commercial concern"
is substitued with "any person"
as to the enlarge the scope of definition. |
|
65(105)(zzzi) |
Sub
clause zzzi is defined to enlarge the
scope of taxable services to any person,
by a registrar to an issue, in relation
to sale or purchase of securities; |
|
65(105)(zzzj) |
Sub
clause zzzj is defined to enlarge the
scope of taxable services to any person,
by a share transfer agent, in relation
to securities; |
|
65(105)(zzzk) |
Sub
clause zzzk is defined to enlarge the
scope of taxable services to any person,
by any other person, in relation to automated
teller machine operations, maintenance
or management service, in any manner; |
|
65(105)(zzzl) |
Sub
clause zzzl is defined to enlarge the
scope of taxable services to banking company
or a financial institution |
|
65(105)(zzzm) |
Sub
clause zzzm is defined with Explanation
to enlarge the scope of taxable services
in relation to sale of space or time for
advertisement. |
|
65(105)(zzzn) |
Sub
clause zzzn is defined to enlarge the
scope of taxable services in relation
to sponsorship. |
|
65(105)(zzzo) |
Sub
clause zzzo is defined with Explanation
as to enlarge the scope of taxable services
in relation to air transport of passenger
by aircraft operator. |
|
65(105)(zzzp) |
Sub
clause zzzp is defined to enlarge the
scope of taxable services in relation
to transport of goods in container. |
|
65(105)(zzzq) |
Sub
clause zzzq is defined to enlarge the
scope of taxable services in relation
to support services of busness and commerce. |
|
65(105)(zzzr) |
Sub
clause zzzr is defined to enlarge the
scope of taxable services in relation
to auction of property expect by auction
of court of law or by Government. |
|
65(105)(zzzs) |
Sub
clause zzzs is defined to enlarge the
scope of taxable services in relation
to managing the public relations. |
|
65(105)(zzzt) |
Sub
clause zzzt is defined to enlarge the
scope of taxable services in relation
to ship management service. |
|
65(105)(zzzu) |
Sub
clause zzzu is defined to enlarge the
scope of taxable services in relation
to internet telephony. |
|
65(105)(zzzv) |
Sub
clause zzzv is defined with Explanation
to enlarge the scope of taxable services
in relation to transportion of person
by cruise ship. |
|
65(105)(zzzw) |
Sub
clause zzzw is defined with Explanation
to enlarge the scope of taxable services
in relation to credit card, debit card,
charge card or any other payment card
service. |
|
65(106) |
“technical
testing and analysis” is defined with
Explanation. |
|
65(121) |
Explanation
is defined as to enlarge the scope of
taxable services provided or to be provided
by any unincorporated association or body
of persons to a member. |
|
66 |
Section
66 is being amended to increase the rate
of service tax from 10 per cent to 12per
cent and to mention specifically included
services in the list of taxable services. |
|
66A(1) |
Section
66A(1) "Charge of service tax on services
received from outside" is defined to include
the taxable services provided by any person
in a country other than India, to a person
(recipient) who is the resident of India. |
|
66A(2) |
Section
66A(2) "Charge of service tax on services
received from outside" is defined to include
the taxable services provided by any person
in India, to a person (recipient) who
is in a country other than India. |
|
67 |
Section
67 which provided valuation of taxable
services for charging tax is substitued
with sub clauses from 1 to 4 as to provide
for determination of value of taxable
service in cases where the consideration
for the provision of service is in money,
or where the consideration is not wholly
or partly consisting of money or where
the consideration is not ascertainable. |
|
73(1A) |
Section
73(1A) is defined to provide for conclusion
of adjudication proceedings in respect
of a person to whom a notice is served
under the proviso to sub-section (1) of
section 73 and who has voluntarily deposited
the service tax demanded in full and the
interest payable thereon under section
75 and penalty equal to twenty five per
cent. of the service tax specified in
the notice. |
|
73A |
Section
73A "Service tax collected from any person
to be deposited with Central Government"
is defined to provide for voluntary payment
by an assessee of any amount collected
in excess of the service tax leviable
but not deposited with the Central Government
or recovery of such excess amount. |
|
73B |
Section
73B "Interest on amount collected in excess"
is defined to enable the Central Government
to collect interest on the amount as determined
under sub-section (4) of section 73A at
such rate not below 10% and not exceeding
24% per annum, as may be notified by the
Central Government . |
|
73C |
Section
73C "Provisional attachment to protect
revenue in certain cases" is defined to
provide for provisional attachment by
the Central Excise Officer of any property
belonging to the person on whom notice
is served under sub -section (1) section
73 or sub-section (3) of section 73A ,
during the pendency of such proceedings
. |
|
73D |
Section
73D "Publication of information in respect
of persons in certain cases" is defined
to provide for publishing the name of
any person and any other particulars relating
to any proceedings under the provisions
of Chapter V of the Finance Act, 1994
in relation to such person, in public
interest, in such manner as may be prescribed. |
|
76 |
Section
76 "Penalty for failure to pay sertice
tax" is redefined with illustration as
to provide that penalty at the rate of
two hundred rupees for every day of failure
to pay service tax or at the rate of two
per cent. of the tax per month, whichever
is higher, shall be imposed for failure
to pay service tax by the due date. |
|
83 |
The
figures and letter "11" and
"11D" is omitted from Section
83 in view of appropriate provisions for
recovery any amount (viz. section 87 and
section 73A) which are being inserted
vide the current Finance Bill. |
|
87 |
Section
87 "Recovery of any amount due to Central
Government" is defined with Sub clauses
a,b,c and d, as to provide modes of recovery
of any amount due to Central Government. |
|
94(2aa) |
Sub
clause (2aa) is defined as to empower
the Central Government to make rules for
valuation of taxable services under section
67; |
|
94(2cc) |
Sub
clause (2cc) is defined as to empower
the Central Government to make rules for
prescribing the manner of provisional
attachment of property during the pendency
of any proceedings under section 73 or
section 73A to protect revenue, under
section 73C; |
|
94(2ccc) |
Sub
clause (2ccc) is defined as to empower
the Central Government to make rules for
prescribing the manner of publication
of the name of any person and any other
particulars in relation to any proceedings
in respect of such person under section
75D. |
|
94(2eeee) |
Sub
clause (2eeee) is defined as to empower
the Central Government to make rules for
prescribing the manner of recovery of
any amount due to the Central Government
under section 87. |
|
95(1C) |
Sub
section 95(1C) is defined to empower the
Central Government to issue orders for
removal of difficulty in case of classifying,
assessing the value of, or implementing
any taxable service incorporated by the
Finance Act, 2006 upto one year from the
date of enactment of the Finance Bill,
2006. |
|
96C(2f) |
Sub
clause 96C (2f) is defined in relation
to application for Advance Ruling as to
empower the Authority for Advance Rulings
to determine the liability to pay service
tax. |
|
Rules |
Gist
of amendment |
|
4(5A) |
Sub
rule 4(5A) is defined requiring an assessee
to intimate any change in information
submitted to the Central Excise Officer
at the time of registration, within 30
days of the said change. |
|
4(8) |
Sub
rule 4(8) is defined to provide for cancellation
of registration certificate by the concerned
Superintendent of Central Excise, where
an assessee makes an application for cancellation
of the said registration certificate. |
|
5(3) |
Sub
rule 5(3) is defined to make it obligatory
for an assessee to preserve records related
to service tax for a period of at least
five years immediately after the financial
year to which the said records pertain
with reference to Notification No. 5/2006-Service
Tax dated 1.3.2006. |
|
5(4) |
Sub
rule 5(4) is defined to make it obligatory
for an assessee to make available the
records pertaining to service tax, to
a Central Excise Officer, for the purpose
of inspection and examination with reference
to Notification No. 5/2006-Service Tax
dated 1.3.2006. |
