Notes-6 - Notes on Clauses - Service tax - Finance Bill, 2015

Service Tax Clause 105 of the Bill seeks to amend section 65B of 1994 Act so as to insert certain clauses, modify or clarify the scope of certain definitions and (a) to omit clauses (9), (24), and (49); (b) to omit certain words in clause (40), with effect from such date as the Central Government may, by notification, appoint. Clause 106 of the Bill of seeks to amend section 66B of 1994 Act so as to increase the service tax rate from twelve to fourteen per cent. Clause 107 of the Bill seeks to amend section 66D of 1994 Act so as to modify the scope of the services specified in negative list. Clause 108 of the Bill seeks to insert an illustration in subsection (1) of section 66F of 1994 Act, so as to clarify the scope of that sub-section by means of an illustration. Clause 109 of the Bill seeks to amend section 67 of 1994 Act so as to substitute clause (a) of the Explanation to amplify the scope of the term consideration . Clause 110 of the Bill seeks to amend section 73 of 1994 Act so as to-- (a) insert a new sub-section (1B) to provide that the recovery may be made under section 87 of the self-assessed service tax, declared in the return but not paid, without service of any notice under sub-section (1); (b) omit sub-section (4A). Clause 111 of the Bill seeks to substitute a new section for section 76 of 1994 Act relating to penalty for failure to pay service tax in cases other than by reason of fraud, collusion, will ful misstatement, suppression of facts or contravention of the provisions of the Act or the rules made thereunder with the intent to evade payment of service tax. Clause 112 of the Bill seeks to substitute a new section for section 78 of 1994 Act relating to penalty for failure to pay service tax by reason of fraud, collusion, will ful mis-statement, suppression of facts or contravention of the provisions of the Act or the rules made thereunder with the intent to evade payment of service tax. Clause 113 of the Bill seeks to insert a new section 78B so as to provide transitional provisions with respect to the amended sections 76 and 78 of 1994 Act. Clause 114 of the Bill seeks to omit section 80 of 1994 Act. Clause 115 of the Bill seeks to amend section 86 of 1994 Act so as to insert a proviso therein to provide that the cases specified thereunder shall be dealt in accordance with the provisions of section 35EE of Central Excise Act. Clause 116 of the Bill seeks to amend section 94 of 1994 Act relating to power to make rules so as to substitute clause (aa) therein.