Finance Act (Service Tax) 1994

Section 67A  -Date of determination of rate of tax, value of taxable service and rate of exchange.

¹ (1). The rate of service tax, value of a taxable service and rate of exchange, if any, shall be the rate of service tax or value of a taxable service or rate of exchange, as the case may be, in force or as applicable at the time when the taxable service has been provided or agreed to be provided.

²[Explanation.—For the purposes of this section, “rate of exchange” means the rate of exchange determined in accordance with such rules as may be prescribed.’]

^old [Explanation.— For the purposes of this section, "rate of exchange" means the rate of exchange referred to in the Explanation to section 14 of the Customs Act, 1962.';]

³[(2) The time or the point in time with respect to the rate of service tax shall be such as may be prescribed.”.]

1. Inserted vide Chapter V of the Finance Bill 2012-13  

2. Substituted vide Chapter V of the Finance Act 2014-15  

3. Inserted vide Chapter V of the Finance Bill 2016-17