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of <h1>Finance Bill 2017: Rule 2A Amendment Excludes Land Value in Works Contract Services Retroactively</h1> Clause 128 of the Finance Bill, 2017, amends rule 2A of the Service Tax (Determination of Value) Rules, 2006, retrospectively. This amendment clarifies that the value of the service portion in executing a works contract, involving land transfer or an undivided share of land, excludes the property's land value. The amendment is effective from the dates specified in the Sixth Schedule and is valid despite any court or tribunal decisions. It affirms the Central Government's power to make such retrospective rules under the Finance Act, 1994, without criminalizing past actions that were not offenses before this amendment.
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