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Revised Scope of Consideration

Service Tax - By: - Dr. Sanjiv Agarwal - Dated:- 22-4-2015 Last Replied Date:- 30-12-1899 - 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. Explana .....

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ode, from one form, currency or denomination, to another form, currency or denomination for which a separate consideration is charged; (ii) any activity carried out, for a consideration, in relation to, or for facilitation of, a transaction in money .....

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a foreman of chit fund for conducting or organising 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 actio .....

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separate consideration charged (b) service or facilitation of transactions in money or actionable claim for a consideration. This would specifically include. (i) services of a lottery distribution or selling agent as defined in clause (31A) of sectio .....

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nactment date) The definition of 'consideration' as provided in clause (a) of explanation to section 67 has been substituted to enlarge its scope and specifically provide that it would include reimbursement of expenses, subject to conditions .....

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or selling agent gets the ticket. The substituted meaning of 'consideration' reads as under: 'consideration' includes- (i) any amount that is payable for the taxable services provided or to be provided; (ii) any reimbursable expendit .....

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y distributor or selling agent from gross sale amount of lottery ticket in addition to the fee or commission, if any, or, as the case may be, the discount received, that is to say, the difference in the face value of lottery ticket and the price at w .....

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d specifically in this section that consideration for a taxable service shall include: (a) all reimbursable expenditure or cost incurred and charged by the service provider. The intention has always been to include reimbursable expenditure in the val .....

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