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of <h1>Service Tax Exemption for Weather-Based and Modified National Agricultural Insurance Schemes Rescinded by Notification No. 34/2012.</h1> The notification issued by the Central Government exempts taxable services related to the general insurance business under the Weather Based Crop Insurance Scheme and the Modified National Agricultural Insurance Scheme from service tax. This exemption is granted under the powers conferred by the Finance Act, 1994, and is deemed necessary in the public interest. The exemption is applicable to services approved by the Government of India and implemented by the Ministry of Agriculture. This notification was later rescinded by Notification No. 34/2012 on June 20, 2012.
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