Sunday, 11 January 2015

No service tax leviable on chit funds even after 1-6-2007; SC dismisses SLP against order of AP High

Service Tax : Supreme Court dismissed SLP against order of Andhra Pradesh High Court holding that in absence of any positive inclusion of 'chit fund' business under service tax law, service tax cannot be levied thereon merely by removal of 'exclusion of cash management' from Banking and Other Financial Services


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