Service tax exemption extended to business facilitators and correspondents for rural basic bank account and insurance outreach activities. The notification substitutes and adds clauses to extend Service Tax exemption coverage to business facilitators and business correspondents performing account opening, cash deposits and withdrawals, e life certificate procurement and Aadhaar seeding for Basic Savings Bank Deposit Accounts in rural branches; it covers intermediaries to those facilitators and extends similar coverage for insurance company facilitators in rural areas. It inserts a definition of Basic Savings Bank Deposit Account per Reserve Bank guidelines and adds yoga alongside religion and spirituality in the specified exemption clause.
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Service tax exemption extended to business facilitators and correspondents for rural basic bank account and insurance outreach activities.
The notification substitutes and adds clauses to extend Service Tax exemption coverage to business facilitators and business correspondents performing account opening, cash deposits and withdrawals, e life certificate procurement and Aadhaar seeding for Basic Savings Bank Deposit Accounts in rural branches; it covers intermediaries to those facilitators and extends similar coverage for insurance company facilitators in rural areas. It inserts a definition of Basic Savings Bank Deposit Account per Reserve Bank guidelines and adds yoga alongside religion and spirituality in the specified exemption clause.
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