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of <h1>Finance Act 2002: New Service Tax Rules for Broadcasting, Including Foreign Entities, Validates Past Actions Under Section 148.</h1> Section 148 of the Finance Act, 2002 modifies the Finance Act, 1994 regarding service tax on broadcasting services. It redefines 'broadcasting' and 'broadcasting agency or organisation' to include activities like selling time slots and obtaining sponsorships, even if the head office is outside India. The provision clarifies that broadcasting services are taxable if received in India, regardless of signal encryption or beaming location. Actions taken under these provisions between July 16, 2001, and the Finance Bill, 2002's enactment are deemed valid. Uncollected service taxes during this period must be recovered within 30 days of the Bill's assent, with a 15% annual interest on late payments. No acts or omissions will be punishable if not considered offenses before this section's enforcement.
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