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of <h1>Central Government exempts Reserve Bank of India from service tax under Finance Act, 1994; supersedes prior notification.</h1> The Central Government, under the authority of the Finance Act, 1994, has exempted all taxable services provided by the Reserve Bank of India from service tax. This exemption, initially established by Notification No. 07/2006-ST on March 1, 2006, was deemed necessary in the public interest. However, this notification was later superseded by Notification No. 22/2006-ST dated May 31, 2006.
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