TaxTMI 
TaxTMI 
Seeks to amend Service Tax Rules
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....es shall be inserted, namely:- "(bb) "banking company" has the meaning assigned to it in clause (a) of section 45A of the Reserve Bank of India Act, 1934 (2 of 1934); (bc) "body corporate" has the meaning assigned to it in clause (7) of section 2 of the Companies Act, 1956 (1 of 1956); (bd) "financial institution" has the meaning assigned to it in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934);" (ii) after sub-clause (c), the following sub-clause shall be inserted, namely:- "(c1a) "goods carriage" has the meaning assigned to it in clause (14) of section 2 of the Motor Vehicles Act, 1988 (59 of 1988);" (iii) after sub-clause (cb), the following sub-clause shall be inserted, namely:- "(cba) "insurance agent" has the meaning assigned to it in clause (10) of section 2 of the Insurance Act, 1938 (4 of 1938);" (iv) after sub-clause (cc), the following sub-clauses shall be inserted, namely:- '(cca)"legal service" means any service provided in relation to advice, consultancy or assistance in any branch of law, in any manner and includes representational services before any court, tribunal or authority; (c....
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....n individual advocate or a firm of advocates by way of legal services, to any business entity located in the taxable territory, the recipient of such service; (E) in relation to support services provided or agreed to be provided by Government or local authority except,- (a) renting of immovable property, and (b) services specified sub-clauses (i), (ii) and (iii) of clause (a) of section 66D of the Finance Act,1994, to any business entity located in the taxable territory, the recipient of such service; (F) in relation to services provided or agreed to be provided by way of :- (a) renting of a motor vehicle designed to carry passengers, to any person who is not engaged in a similar business; or (b) supply of manpower for any purpose; or (c) service portion in execution of a works contract- by any individual, Hindu Undivided Family or partnership firm, whether registered or not, including association of persons, located in the taxable territory to a business entity registered as a body corporate, located in the taxable territory, both the service provider and the service recipient to the extent notified und....
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....service but containing other information in such documents as required under this sub-rule :"; (iv) for the fourth proviso, the following proviso shall be substituted, namely:- "Provided also that in case the provider of taxable service is a banking company or a financial institution including a non-banking financial company providing service to any person, the period within which the invoice, bill or challan, as the case may be, is to be issued, shall be forty-five days:" ; (v) for the fifth proviso, the following proviso shall be substituted, namely:- "Provided that in case the provider of taxable service is providing the service of transport of passenger, an invoice, a bill or as the case may be, challan shall include ticket in any form by whatever name called and whether or not containing registration number of the provider of service and address of the recipient of service but containing other information in such documents as required under this sub-rule"; (B) in sub-rule (2), ....
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....ch adjustment."; (4) in sub-rule (7),- (a) after the words "to the services", the words "of booking of tickets for travel by air" shall be inserted; (b) for the word and figures "section 66", the word, figures and letter "section 66B" shall be substituted; (5) in sub rule (7A), for the word and figures "section 66", the word, figures and letter "section 66B" shall be substituted; (6) in sub-rule (7B), for the portion beginning with the brackets, figure, letter and words, "(7B) The person liable to pay" and ending with the words and figures "Chapter V of the Act, namely :", the following shall be substituted, namely:- "(7B) The person liable to pay service tax in relation to purchase or sale of foreign currency, including money changing, shall have the option to pay an amount calculated at the following rate towards discharge of his service tax liability instead of paying service tax at the rate specified in section 66B of Chapter V of the Act, namely :" (7) in the sub-rule (7C),- (i) for the for the portion beginning with the brackets, figure,....