Government of India
Ministry of Finance
(Department of Revenue)
***
Notification No. 03/2014-Service Tax
New Delhi, 3rd February, 2014
G.S.R….(E).- Whereas, the Central Government is satisfied that a practice was
generally prevalent regarding levy of service tax (including non-levy thereof),
under section 66 of the Finance Act, 1994 (32 of 1994) (hereinafter referred to
as ‘the Finance Act’), on services provided by an authorised person or
sub-broker to the member of a recognised association or a registered
association, in relation to a forward contract, and that such services were
liable to service tax under the Finance Act, which was not being levied
according to the said practice during the period commencing from the 10th day of
September 2004 and ending with the 30th day of June 2012;
Now, therefore, in exercise of the powers conferred by section 11C of the
Central Excise Act, 1944 (1 of 1944), read with section 83 of the Finance Act,
the Central Government hereby directs that the service tax payable on the
services provided by an authorised person or sub-broker to the member of a
recognised association or a registered association, in relation to a forward
contract, shall not be required to be paid in respect of such taxable service on
which the service tax was not being levied during the aforesaid period in
accordance with the said practice.
[F. No. 354/131/2013 – TRU]
(Raj Kumar Digvijay)
Under Secretary to the Government of India