Seeks to amend exemption notification No. 25/2012-ST dated 20.06.2012 so as to exempt services by an acquiring bank, to any person in relation to settlement of an amount upto two thousand rupees in a single transaction transacted through credit card, debit card, charge card or other payment card service - 52/2016 - Service Tax
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Exemption for acquiring bank services: settlement of small-value card transactions exempt from service tax under amended notification. Inserts Entry 64 into Notification No.25/2012-Service Tax to exempt services by an acquiring bank to any person in relation to settlement of a single payment card transaction up to a specified small-transaction threshold, and defines 'acquiring bank' to include banking companies, financial institutions including non-banking financial companies, or any other person who makes payment to a card-accepting person.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Exemption for acquiring bank services: settlement of small-value card transactions exempt from service tax under amended notification.
Inserts Entry 64 into Notification No.25/2012-Service Tax to exempt services by an acquiring bank to any person in relation to settlement of a single payment card transaction up to a specified small-transaction threshold, and defines "acquiring bank" to include banking companies, financial institutions including non-banking financial companies, or any other person who makes payment to a card-accepting person.
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