TaxTMI 
TaxTMI 
SIR IN WHICH RATE THE SERVICE TAX APLICABLE ON MONEY CHANGER IN 2012-13
SERVICE TAX RATE FY 2012-13 ON MONEY CHANGER SERVICE
16 Oct 2017 
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Classification as Commission Agent service makes money changer transactions subject to service tax and educational cesses for FY 2012-13.
Money changer services were treated under the erstwhile BAS category as a Commission Agent/intermediary Service; accordingly the applicable levy for the fiscal period comprised the service tax rate and attendant education cesses prescribed for intermediary services, with further details and clarifications referenced in the departmental circular; note was also made that departmental action for that period may be constrained by the applicable limitation period. (AI Summary)
Money changer services were treated under the erstwhile BAS category as a Commission Agent/intermediary Service; accordingly the applicable levy for the fiscal period comprised the service tax rate and attendant education cesses prescribed for intermediary services, with further details and clarifications referenced in the departmental circular; note was also made that departmental action for that period may be constrained by the applicable limitation period. (AI Summary)