Amendment in the Service Tax (Determination of Value) Rules, 2006 vide Notification No. 24/2011 – Service Tax

Brief of the Notification:- Determination of value of service in relation to money changing : for the words “reference rate for that currency for that day”, the words “reference rate for that currency at that time” shall be substituted.

New Delhi, 31^st March, 2011

Notification No.24/2011 – Service Tax

G.S.R.  (E).- In exercise of the powers conferred by clause (aa) of 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 (Determination of Value) Rules, 2006, namely :-

1.         (1)        These rules may be called the Service Tax (Determination of Value) Second Amendment Rules, 2011.

(2)        They shall come into force on the 1^st day of April, 2011.

2.         In the Service Tax (Determination of Value) Rules, 2006, in rule 2B, for the words “reference rate for that currency for that day”, the words “reference rate for that currency at that time” shall be substituted.

[F. No. 334/3/ 2011 – TRU]

(SAMAR NANDA)

Under Secretary to the Government of India

Note.-  The principal rules were notified vide notification no. 12/2006-Service Tax, dated the 19^th April, 2006, published in the Gazette of India, Extraordinary vide number G.S.R. 228(E), dated the 19^th April, 2006 and last amended vide notification No.02/2011-Service Tax, dated the 1^st March, 2011, vide number G.S.R. 159(E), dated the 1^st March, 2011.

Related posts:

1. Amendment in the Taxation of Services (Provided from Outside India and Received in India) Rules, 2006 vide Notification No. 23/2011 – Service Tax
2. Service Tax (Determination of Value) Amendment Rules, 2011 – Insertion of rule 2B
3. Service Tax : Service Tax (Determination of Value) Amendment Rules, 2011 – Insertion of rule 29 – Corrigendum to Notification No. 2/2011-ST, dated 1-3-2011
4. Notification amending the Service Tax (Determination of Value) Rules, 2006 to insert one clause under sub-rule (2) in Rule 6
5. Budget 2011 – Service Tax – Amendments to Service Tax (Determination of Value) Rules, 2006