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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 servi .....

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For the purposes of this clause, the expression transaction in money or actionable claim shall not include- any activity relating to use of money or its conversion by cash or by any other mode, from one form, currency or denomination, to another for .....

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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 i .....

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the new explanation, following services or activities have been carved out of the exclusion clause [a(ii)] and these shall now be taxable from a notified date : (a) money transactions for a separate consideration charged (b) service or facilitation o .....

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of chit fund for organizing or conducting a chit as defined in clause (23A) of section 65B inserted by Finance Bill, 2015. CBEC has clarified vide Letter No. DOF 334/5/2015-TRU dated 28.02.2015 as under - 'The intention in law has been to levy S .....

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