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of <h1>Understanding Service Tax Valuation Under Section 67 of Finance Act 1994: Key Points on Consideration and Gross Amount</h1> Section 67 of the Finance Act, 1994, outlines the valuation of taxable services for charging service tax. The service tax is based on the value of the service provided, determined by the gross amount charged by the service provider. If the consideration is partly or wholly non-monetary, the value is equivalent to the monetary consideration plus service tax. When the consideration is unascertainable, it is determined as prescribed. The gross amount includes payments made before, during, or after service provision. 'Consideration' includes any payable amount, reimbursable costs, and certain retained amounts by agents, while 'gross amount charged' encompasses various payment forms.
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