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Issues: Whether advertisement placed in a foreign magazine used for the fertilizer industry was taxable as sale of space or time for advertisement, or fell within the exclusion for print media by reason of the publication being a book.
Analysis: The relevant definition of sale of space or time for advertisement under Section 65(105)(zzzm) of the Finance Act, 1994 excludes advertisements in print media. The publication in question was examined in the light of the definition of book under Section 1(i) of the Press and Registration of Books Act, 1867. On its contents and character, the magazine was found to be a publication dealing with fertilizer industry information, machinery and related articles, and not a commercial directory or catalog meant for business promotion. It was therefore treated as a book and, being a printed publication, the advertisement placed in it was held to be within the print media exclusion.
Conclusion: The demand of service tax under the category of sale of space or time for advertisement was not sustainable and the appeal succeeded.
Ratio Decidendi: An advertisement placed in a printed publication that answers the description of a book under the Press and Registration of Books Act is excluded from tax as sale of space or time for advertisement under the Finance Act.
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