Service tax definition changes redefine 'transaction in money' exclusions and add lottery and chit fund roles. Amendment of section 65B revises definitions: omits specified clauses and words; inserts definitions for foreman of chit fund, lottery distributor or selling agent, and Government (limited to Departments whose accounts are kept under article 150); and substitutes Explanation 2 to exclude currency conversion and facilitation activities (including lottery promotion/sales and chit conduct) from the expression 'transaction in money or actionable claim,' with certain changes effective on notification by the Central Government.
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Provisions expressly mentioned in the judgment/order text.
Service tax definition changes redefine "transaction in money" exclusions and add lottery and chit fund roles.
Amendment of section 65B revises definitions: omits specified clauses and words; inserts definitions for foreman of chit fund, lottery distributor or selling agent, and Government (limited to Departments whose accounts are kept under article 150); and substitutes Explanation 2 to exclude currency conversion and facilitation activities (including lottery promotion/sales and chit conduct) from the expression "transaction in money or actionable claim," with certain changes effective on notification by the Central Government.
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