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of <h1>Department of Posts Services Exempt from Service Tax u/ss 65(12) and 65(105)(zm) of Finance Act 1994.</h1> The circular addresses the applicability of service tax on banking and financial services provided by the Department of Posts. It clarifies that services such as money orders, operation of savings accounts, and issuance of postal orders by the Department of Posts do not fall under the category of taxable banking and financial services as defined in sections 65(12) and 65(105)(zm) of the Finance Act, 1994. The Department of Posts is not considered similar to a bank or financial institution, and thus, its services are exempt from service tax. Field formations and the trade are to be informed accordingly.
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