Service tax on money changing clarified as not leviable where activity is not foreign exchange broking, reversing prior guidance.
Administrative guidance initially treated money changing as falling within foreign exchange broking and taxable as a banking and financial service; a later circular reversed that view, stating service tax is not leviable on money changing per se because the activity does not constitute foreign exchange broking, raising questions about taxpayers harmed by reliance on the earlier incorrect instruction.

Service tax threshold increase expands registration relief; tax base broadened to include renting, works contracts and asset management.
The exemption threshold for small service providers and the registration trigger are raised, while the service tax base is expanded to add or redefine taxable categories including renting of immovable property for business use, works contract services (with specified inclusions and infrastructure exclusions and a proposed composition option), mining, content development and supply, asset and fund management, and design services; scope amendments further adjust definitions for advertisement space, rent-a-cab, event and social-function related services, producing refund opportunities and raising compliance and litigation issues.