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of <h1>Draft Valuation Rules Proposed to Amend Section 67 for Non-Monetary Service Tax Cases; Feedback Due March 31, 2006.</h1> The draft Valuation Rules for the determination of service tax value, dated March 1, 2006. Currently, the valuation of taxable services is governed by section 67 of the Finance Act, 1994, which considers the gross amount charged by the service provider. However, this provision does not address situations where consideration is not entirely monetary or is unknown. The Finance Bill, 2006 proposes to amend section 67 to include such cases and notify rules for determining taxable value. Feedback on these draft rules is invited by the Tax Research Unit, Ministry of Finance, by March 31, 2006.
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