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of <h1>Finance Bill 2017: Service Tax Changes, Exemptions for Military Insurance, Cenvat Credit Amendments, and Higher Advance Ruling Fees</h1> The Finance Bill, 2017 introduces various changes to service tax provisions. Key amendments include the removal of certain services from the Negative List, with exemptions provided in specific notifications. Notably, service tax exemptions are extended to insurance services for military personnel and long-term industrial leases. Amendments to the Authority for Advance Ruling include increased application fees and a six-month ruling period. New exemptions cover military insurance services and Regional Connectivity Scheme-related air transport services. Additionally, Cenvat Credit Rules are amended to exclude certain financial services from input tax credit reversal calculations.
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