Amends Service Tax Rules, 1994

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....          G.S.R.  (E).- In exercise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to as the said Act), the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely :- 1.     &nb....

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.... of the gross amount of premium charged from a policy holder in all other cases; towards the discharge of his service tax liability instead of paying service tax at the rate specified in section 66 of Chapter V of the said Act: Provided that such option shall not be available in cases where the entire premium paid by the policy holder is only towards risk cover in life insurance.". [F. No....