No Service tax leviable on Chit Fund business even after June 1, 2007

Last updated: 21 January 2015

Court :
Supreme Court

Brief :
It can be construed that the consideration received for providing services in relation to the Chit fund business, being merely a transaction in money, would not be exigible to Service tax either prior or post Negative List regime.

Citation :
Union of India Vs. Andhra Pradesh Federation of Chit Funds [(2015) 53 taxmann.com 237 (SC)]

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Bimal Jain
Published in Service Tax
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