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Servicetax on Co-operative society for banking services



Guest



Guest (Querist)
1. Whether a co-operative society(bank)being a body corporate, is liable to pay service tax for it's services to it's members as well as non-members under the category of commercial concern or any other person (before 01.06.2007)?

2. Is there any judgement in support of the reply of my query?


If taxable services provided to non members there is no doubt of liability.
On services tomembers the position is unlclear as disputes on self service are being argued.


Guest



Guest (Querist)
My client argues that co-operative society(bank)is a body corporate and as per Sec. 2(7) of companies Act, a co-operative society is out of definition of body corporate and therefore, co-operative society is exempted from service tax so far as banking services are concerned vy exclusion through definition.


Guest



Guest (Querist)
My client argues that co-operative society(bank)is a body corporate and as per Sec. 2(7) of companies Act, a co-operative society is out of definition of body corporate and therefore, co-operative society is exempted from service tax so far as banking services are concerned vy exclusion through definition.


Guest



Guest (Querist)
My client argues that co-operative society(bank)is a body corporate and as per Sec. 2(7) of companies Act, a co-operative society is out of definition of body corporate and therefore, co-operative society is exempted from service tax so far as banking services are concerned vy exclusion through definition.

A co-operative society is not a body corporate as per the definition in the Finance Act. It is neither a commercial concern in the popular meaning. So co-operative societies will not come under the Service tax net.


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