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of <h1>Service Tax Scope on Trading of Goods Defined Under Section 66D(e); Includes Futures, Excludes Commission Agents</h1> The manual outlines the scope of service tax on trading of goods, effective from July 1, 2012, under Section 66D(e) of the Negative List. Trading is defined as the purchase and sale of goods, with court rulings clarifying that it involves profit-driven transactions. The definition of 'service' excludes the transfer of title in goods or immovable property. Clarifications include that commission agents and clearing agents do not engage in trading, while futures contracts and commodity futures are considered trading due to the transfer of title. Auxiliary services related to futures contracts are not included in the negative list for trading of goods.
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