applicability of service tax to chit fund company
This query is : Resolved
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?
If not which services of chitfund company are subject to service tax? could u please give me the applicability of service tax?
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/
Your services will be taxable in line with the Banking and Financial services like processing fee etc...
https://www.caclubindia.com/homepage/DM%20Associate/
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.
[Cir.No.41/4/2002, dated 15.03.2002.
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