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applicability of service tax to chit fund company

This query is : Resolved 
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(Querist)
01 February 2008 Is the service tax applicable to monthly subscription amount payable by subscriber?
If not which services of chitfund company are subject to service tax? could u please give me the applicability of service tax?
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Dayal

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Dayal (Expert)
04 February 2008 Subscription charges are not the charges against services rendered by you

Your services will be taxable in line with the Banking and Financial services like processing fee etc...

https://www.caclubindia.com/homepage/DM%20Associate/
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MANAS ROUT

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MANAS ROUT (Expert)
01 March 2008 BANKING AND OTHER FINANCIAL SERVICES WILL NOT INCLUDE THE SERVICE RENDERED BY CHIT FUNDS.ACCORDINGLY , THE SERVICE RENDERED BY CHIT FUNDS WILL NOT FALL IN THE CATEGORY OG TAXABLE SERVICE AS DEFINED IN SECTION-65(72)zm OF THE FINANCE ACT,1994
[Cir.No.41/4/2002, dated 15.03.2002.
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