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I am a Company Secretary hailing from Thrissur, Kerala. I am working as a Consultant with a reputed Law firm in Chennai. This blog is an attempt to interpret and express my views on Corporate laws and Finance related areas.

4.2.14

Ministry of Finance changes the definition of ‘Governmental Authority’.


Old definition


“Governmental authority’’ means a board, or an authority or any other body established with 90% or more participation by way of equity or control by Government and set up by an Act of the Parliament or a State Legislature to carry out any function entrusted to a municipality under article 243W  of the Constitution;  

New definition 

The recent Notification No. 02/2014 - Service Tax by Ministry of Finance (Department of Revenue), Government of India, amended the definition in the following manner-
“Governmental authority” means an authority or a board or any other body;

(i)  set up by an Act of Parliament or a State Legislature; or

(ii) established by Government, with 90% or more participation by way of equity or control, to carry out any function entrusted to a municipality under article 243W of the Constitution;’.

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