Service tax expanded to specified professional and commercial services, with registration, returns and penalties imposed. The Finance (No. 2) Act, 1998 amends the Finance Act, 1994 Service Tax Chapter by replacing Definitions to enumerate specified services and terms, re framing the charge of service tax on identified taxable services (with staged commencement and a distinct annual levy for certain services), and specifying that gross amounts charged by designated professionals and agencies form taxable value. It imposes obligations for payment, registration, returns and assessment, prescribes interest and penalties for defaults, and empowers the Central Government to exempt services and make rules governing collection, registration, returns and appeals.