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of <h1>Service Tax Exemption on Inter-Bank Forex Transactions Rescinded as of June 20, 2012 Under Finance Act 1994.</h1> The notification exempts taxable services related to inter-bank transactions involving the purchase and sale of foreign currency provided by one Scheduled bank to another from service tax. This exemption, issued under the Finance Act of 1994, was initially enacted on July 7, 2009, and later modified on April 1, 2011, to include services provided to any bank, including those outside India, or money changers. However, this exemption was rescinded by a subsequent notification on June 20, 2012.
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