Securities transaction tax reduction for equity transactions alters tax incidence under the Finance Bill provisions. Clause 153 reduces the securities transaction tax rate for taxable transactions in equity shares and units of equity oriented funds effective 1 July, 2012. Clauses 151, 152 and 154 amend the cess on crude oil and the Seventh Schedules of the Finance Acts, 2001 and 2005, each effective on enactment. Clause 155 retrospectively expands 'inputs' to 'inputs or input services' from 8 May, 2010. Clause 156 contains a deeming clause recasting section 73(b) of the Finance Act, 2011 as section 70A and updates schedule cross references, effective on enactment.