Service tax applicability on Money Transfer/ Money Changing Business.

[Guest]

Whether service tax is applicable on Money Transfer/ Money Changing Business.

[Ravi Chopra]

It it is in the nature of Banking or Finance Service than it is taxable in that category.

AI Summary

Service tax on banking or finance services applies when money transfer or money changing constitutes those taxable services. Applicability of service tax on money transfer and money changing depends on whether the activity is in the nature of Banking or Finance Service; if so, it is taxable under that category.