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Question - What are proposed amendment in Sec.66F (1) in Finance Bill 2015 ?
Amendment in Sec. 66F (1)
01 Mar 2015 
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Input service exclusion: agency services supplied to the central bank remain separately taxable, imposing tax liability on providers.
Amendment clarifies Section 66F(1) excludes input services from references to a service; an added illustration explains that agency or ancillary services provided to a principal service (such as central bank services) remain separate input/agency services and are taxable when supplied by banks or other providers, confirming their liability under the provision. (AI Summary)
Amendment clarifies Section 66F(1) excludes input services from references to a service; an added illustration explains that agency or ancillary services provided to a principal service (such as central bank services) remain separate input/agency services and are taxable when supplied by banks or other providers, confirming their liability under the provision. (AI Summary)