Sale of space or time for Advertisement was a taxable Service w.e.f dtd 1.5.2006. Now, it is in the negative list except advertisement broadcast by Radio or Television. The negative list has been mentioned in Section 66D of the Finance Act and it is effective from dtd 1.7.2012. So, this is a significant change in the old taxable service.
Prior to introduction of negative list, sale of space or time by a broadcasting agency or organisation was excluded from the purview of Service Tax.
So, who are paying service tax previously? Service providers advertising in hoardings, bill boards in Public places, buildings, conveyances, cell phones, ATM machines and internet were required to pay Service Tax in this category of Service. Now, they are exempted by virtue of inclusion in the negative list mentioned above.
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