Service tax amendment: redefines providers, adds sponsorship recipient liability, and raises abatement rates under Finance Act reforms. Amends the Service Tax Rules, 1994 via the Service Tax (Third Amendment) Rules, 2006 effective 1 May 2006. Substitutes and inserts sub-clauses in rule 2(d) to identify the insurer or reinsurer as the provider for general insurance services and to treat a body corporate or firm that receives sponsorship service as the relevant recipient-provider. Replaces 'commercial concern' with 'any other person' in rule 4A. Alters abatement/percentage figures in rule 6(7) by substituting previously prescribed percentages with higher rates, affecting calculation bases under that rule.
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Service tax amendment: redefines providers, adds sponsorship recipient liability, and raises abatement rates under Finance Act reforms.
Amends the Service Tax Rules, 1994 via the Service Tax (Third Amendment) Rules, 2006 effective 1 May 2006. Substitutes and inserts sub-clauses in rule 2(d) to identify the insurer or reinsurer as the provider for general insurance services and to treat a body corporate or firm that receives sponsorship service as the relevant recipient-provider. Replaces "commercial concern" with "any other person" in rule 4A. Alters abatement/percentage figures in rule 6(7) by substituting previously prescribed percentages with higher rates, affecting calculation bases under that rule.
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