Liability of 'money changers' to pay service tax under 'banking and other financial service' - reg

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..... ng and other financial service' - reg. Service tax is leviable on foreign exchange (forex) broking service under the category of 'banking and other financial service'. In terms of the provisions of the Finance Act, 1994, foreign exchange broker includes a money changer (authorized dealer of foreign exchange). In this context, a question has arisen as to whether the service provided by a mone .....

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..... ing per se; as such activity does not fall under the category of foreign exchange broking. 3. The instruction issued earlier vide letter F. No. 341/44/2005-TRU, dated 6.10.2005 stands superceded. Trade and field formations may be advised accordingly. 5. Hindi version will follow. (Gautam Bhattacharya) Commissioner (Service Tax) F. No. 249/3/2007-CX.4 - Circular - Trade .....

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