Service tax framework established under Finance Act 1994 Chapter V covering taxable services and administrative procedures
Chapter V of the Finance Act, 1994 establishes the statutory framework for service tax in India. This provision introduces the legal basis for imposing tax on specified services, defining the scope of taxable services, rates of taxation, and administrative procedures. The chapter outlines the powers of tax authorities, compliance requirements for service providers, and enforcement mechanisms. It serves as the foundational legislation governing service tax collection and administration, establishing the regulatory structure for taxation of services in the Indian tax system.
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