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of <h1>Finance Act Amendment Revises Service Tax Definitions; Sets 5% Tax Rate for Advertising, Courier, and Pager Services</h1> The amendment to the Finance Act, 1994, as introduced by the Finance (No. 2) Act, 1996, revises definitions and service tax provisions. It introduces definitions for 'advertisement,' 'advertising agency,' 'courier agency,' and 'pager.' The service tax rate is set at five percent for services related to advertising, courier, and pager services, in addition to telephone connections. The amendments specify that the taxable value for services provided by advertising and courier agencies will be the gross amount charged. The amendments also expand the scope of entities responsible for collecting service tax to include advertising and courier agencies.
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