9911796707
TMI BlogAmends Service Tax Rules, 1994,X X X X Extracts X X X X X X X X Extracts X X X X ..... ub-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 Service Tax Rules, 1994 (hereinafter referred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rson, 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 rupees one thousand in excess of the amount indicated i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 provided or to be provided by him up to a total of rupees fifty lakhs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 figures and words "120 and 0.06 per cent." shall be substituted; (c) in c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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