Service Tax - Legislative changes to be effective from 1st October
GOVERNMENT has appointed the 1st day of October 2014 as the date on which the provisions of clauses (A), (B) and (C) of Section 114 of the Finance Act 2014 will come into force. These clauses amend the Finance Act 1994 in the following manner:
(A) in section 65B, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,-
(i) in clause (32), after the words "the rules made thereunder", the words "but does not include radio taxi" shall be inserted;
(ii) after clause (39), the following clause shall be inserted, namely:-
‘(39a) "print media" means,-
(i) "book" as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867, but does not include business directories, yellow pages and trade catalogues which are primarily meant for commercial purposes; (25 of 1867.)
(ii) "newspaper" as defined in sub-section (1) of section 1 of the Press and Registration of Books Act, 1867;'; (25 of 1867.)
(B) in section 66D, with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,-
(i) for clause (g), the following clause shall be substituted, namely:-
"(g) selling of space for advertisements in print media;";
(ii) in clause (o), for sub-clause (vi), the following sub-clause shall be substituted, namely:-
"(vi) metered cabs or auto rickshaws;";
(C) in section 67A, for the Explanation , the following Explanation shall be substituted with effect from such date as the Central Government may, by notification in the Official Gazette, appoint, namely:-
"Explanation .-For the purposes of this section, "rate of exchange" means the rate of exchange determined in accordance with such rules as may be prescribed.";
Notification No. , Dated: August 25, 2014