India Updates Service Tax Exemptions: Stem Cell Preservation and Rice Warehousing Services Get Relief

The Government of India, through the Ministry of Finance, has issued Notification No. 04/2014 - Service Tax, amending Notification No. 25/2012 - Service Tax dated June 20, 2012. The amendment, made under the powers conferred by the Finance Act, 1994, introduces two new service exemptions: services provided by cord blood banks related to stem cell preservation, and services involving loading, unloading, packing, storage, or warehousing of rice. These changes are deemed necessary in the public interest and are to be published in the Gazette of India.

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