TMI BlogAmends Service Tax Rules, 1994,X X X X Extracts X X X X X X X X Extracts X X X X ..... ise of the powers conferred by sub-section (1) read with sub-section (2) of section 94 of the Finance Act, 1994 (32 of 1994) , the Central Government hereby makes the following rules further to amend the Service Tax Rules, 1994, namely: 1. (1) These rules may be called the Service Tax (Amendment) Rules, 2012. (2) They shall come into force on the 1st day of April, 2012. 2. In the Servic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r any other person, providing service to any person, in relation to banking and other financial services, the period within which the invoice, bill or challan, as the case may be is to be issued, shall be forty five days; ; (iii) after the fifth proviso, the following proviso shall be inserted, namely:- Provided also that wherever the provider of taxable service receives an amount upto rupe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eriod specified by the Reserve Bank of India, including such extended period as may be allowed from time to time: Provided also that in case of individuals and partnership firms whose aggregate value of taxable services provided from one or more premises is fifty lakh rupees or less in the previous financial year, the service provider shall have the option to pay tax on taxable services provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... premium charged from policy holder in the subsequent years; ; (4) in sub-rule (7B), (a) in clause (a), (i) for the figures and words 0.1 per cent. , the figures and words 0.12 per cent. shall be substituted; (ii) for the word and figures rupees 25 the word and figures rupees 30 shall be substituted; (b) in clause (b), for the figures and words 100 and 0.05 per cent. , the fig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -ST , dated the 28th June, 1994 vide number G.S.R. 546(E), dated the 28th June, 1994 and was last amended by notification No. 48/2011-Service Tax , dated the 19th October, 2011 vide number G.S.R. 771 (E), dated the 19th October, 2011. -------------------- Notes:- 1. Corrected vide Corrigendum No. F. No. 334/1/2012-TRU, dated 21/03/2012 , before it was read as:- 0.12 per ..... X X X X Extracts X X X X X X X X Extracts X X X X
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