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EXPANDED SCOPE OF 'SERVICE'

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 9-4-2015 - The term 'service' has been defined in section 65B(44) of the Finance Act, 1994 vide Finance Act, 2012 w.e.f. 1.7.2012. The Finance Bill, 2015 has sought to expand the scope of service for the purpose of service tax. Amendment made by Finance Bill, 2015 (w.e.f. notified date) Finance Bill, 2015 has amended the definition of service under clause (44) of section 65B. Explanation - 2 has been substituted as under: Explanation 2. - .....

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by a lottery distributor or selling agent in relation to promotion, marketing, organizing, selling of lottery or facilitating in organizing lottery of any kind, in any other manner; (b) by a foreman of chit fund for conducting or organizing a chit in any manner.' Thus, the scope of transaction in money has been expanded to include both, transaction in money or actionable claim. By sub clause [a(ii)], a transaction in money or actionable claim are excluded from the meaning of service . With .....

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