Amendment to Section 67: Service Tax Valuation Changes Are Prospective From May 10, 2008, Not Retroactive.

Demand of service tax on suspense account - transaction with associated enterprises - Amendment to section 67 will be prospective i.e. w.e.f. 10.05.2008 or retrospective - Valuation - the addition to the Explanation (C) with effect from 10.05.2008 is prospective in nature - AT .....

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