https://www.taxtmi.com/article/detailed?id=5467 The document addresses whether trading of goods is a taxable service. Trading is listed in the negative list and the Board clarifies that trading includes futures and commodity futures but excludes auxiliary services (e.g., commission agents, exchanges). When activities are treated as exempted services, CENVAT Credit Rules require either segregated accounts or prescribed payment options, including provisional monthly computations, annual finalisation by 30 June, interest for short payments, and reporting to the Superintendent. The author opines that ordinary trading is not a service. en-us Wed, 05 Feb 2014 06:32:03 +0530 Wed, 05 Feb 2014 06:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5467 The document addresses whether trading of goods is a taxable service. Trading is listed in the negative list and the Board clarifies that trading includes futures and commodity futures but excludes auxiliary services (e.g., commission agents, exchanges). When activities are treated as exempted services, CENVAT Credit Rules require either segregated accounts or prescribed payment options, including provisional monthly computations, annual finalisation by 30 June, interest for short payments, and reporting to the Superintendent. The author opines that ordinary trading is not a service. Articles Service Tax Wed, 05 Feb 2014 06:32:03 +0530 https://www.taxtmi.com/article/detailed?id=5467