8 New Services - Finance Bill targets forthcoming IPL-3 - money spinning activities under service tax net

By TIOL News Service

NEW DELHI, FEB 26, 2010: THE Finance Bill, 2010, has proposed to bring in the following 8 new services, viz.,

1) Services relating to promotion of lottery, bingo and lotto, game of chance.

2) Health services provided by hospitals to employees of a business entity where payment is made directly by the business entity to hospital and persons covered under health insurance schemes.

3) Marketing or promotion of branded goods by any person under a contract.

4) Any person granting right of commercial use of any event relating to art, entertainment, business, sports.

5) Electricity exchanges.

6) Transferring temporally or permitting use of copy right.

7) Services provided by a builder to a buyer in relation to preferential location or development of residential complex or commercial complex.