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BUDGET CHANGES IN NEGATIVE LIST - PART III

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 18-4-2015 - The following change in the negative list shall be applicable from the notified date after the enactment of Finance Bill, 2015: Betting gambling or lottery [Clause (i) of Section 66D] Finan .....

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(44) of section 65B . Explanation - 2 inserted by Finance Bill, 2015 to section 65B (44) reads as under: Explanation 2. - For the purposes of this clause, the expression transaction in money or actionable claim shall not include- (i) any activity re .....

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n, in relation to, or for facilitation of, a transaction in money or actionable claim, including the activity carried out- by a lottery distributor or selling agent in relation to promotion, marketing, organising, selling of lottery or facilitating .....

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ecifically state the intention of the legislature to levy Service Tax on activities undertaken by lottery distributors and selling agents in relation to lotteries. Further, an explanation has been inserted in Clause (i) of section 66D (negative list) .....

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explanation in clause (i) so as to exclude services of 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 from the scope of neg .....

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gard, the consideration for service would include amount retained by the distributor or selling agent of lottery from gross sale amount of lottery ticket, or, as the case may be, the discount received, that is the difference in the face value of lott .....

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