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2018 (4) TMI 73 - HC - Service TaxLiability to service tax - chit transactions - scope of definition of the service prior to 01-06-2007 - whether between 2012 and 2015 there could be tax levied on the chit transactions deeming it to be a service, which has not been excluded in the definition nor included in the negative list? - Held that: - the issue whether between 2012 and 2015, the tax can be levied on the chit transactions is beyond the scope of dispute - the transactions “by a foreman of chit fund for conducting or organizing a chit in any manner” was specifically excluded from the definition of transaction in money or actionable claim. As a consequence, the chit transaction becomes liable to tax under the Finance Act, 1994, from 2015 onwards. The amendment made in 2015 cannot be said to be clarificatory and there can be no retrospective operation given to such amendment. The legislature felt the need for inclusion of the transactions within the fold of service and hence amended the Finance Act, 1994 by Finance Act, 2015. Petition allowed.
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