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of <h1>New Section 65B Defines 'Service' for Tax Purposes, Excludes Property Transfers, Monetary Transactions, Employee Services</h1> The definition of 'service' under the new section 65B, which includes any activity for consideration carried out by one person for another, including declared services. It excludes activities such as transfer of title in goods or immovable property, transactions in money or actionable claims, and services provided by employees to employers. The text elaborates on the elements of 'activity' and 'consideration,' distinguishing between monetary and non-monetary considerations, and explains the tax implications of these distinctions. It also clarifies the taxability of services provided by government entities and the treatment of composite transactions involving both goods and services. The document addresses the exclusion of certain activities from the definition of service, including those involving deemed sales and transactions only in money or actionable claims.
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