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of <h1>Procedure for Surrendering Service Tax Registration Post-Finance Bill Amendments; New Exemption and Registration Thresholds Explained.</h1> The circular outlines the procedure for surrendering the Service Tax Registration Certificate (ST-2) following amendments in the Finance Bill 2007. It clarifies that service providers with taxable services not exceeding Rs. 8 lakhs (increased to Rs. 10 lakhs in 2008) are exempt from service tax. The registration threshold is raised from Rs. 3 lakhs to Rs. 7 lakhs, and later to Rs. 9 lakhs. Registered providers ceasing services must surrender their certificate to the Superintendent of Central Excise. An undertaking in a prescribed format must accompany the original certificate. Trade associations are urged to inform their members.
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