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Let us discuss the various Amendements made by FA, 2012

1.

For the first time the Act now defines the term “Service” which was not defined earlier.

As per Sec 65B Service “means any activity carried out by a person for another for consideration

and includes a declared service but does not include transfer or sale of goods and immovable property and provision of service by employee to employer. All activities other than these will be considered as a “service” liable for service tax

Declared Service means an activity which will amount to service even though the same may not apparantly seems to be a service

Following 9 services have been specfied as Declared Services in Sec 66E

1.Renting of immovable property

2.Construction activity

3.Intellectual Property Rights

4.Information Technology software

5.Non-compete arrangements

6.Supply of goods on hire

7.Hire purchase

8.Works contract

9.Catering

what is the sec 73 and sec 78 what is the diff.