Question

_______ was/were first to be covered under service tax net in 1994-95.

• A. Stock brokers services
• B. Non-life insurance services
• C. Telephone
• D. All of the above

Answer 1

Answer: (D)

All of the above

Service tax was introduced in 1994 by the finance minister Dr. Manmohan singh in which he emphasized the need for service tax. Service tax is the tax levied on the service provided by the seller to customer and is borned by the customer. The services which were covered under service tax net in 1994-95 were stock broker services, non life insurance services and telephone.