https://www.taxtmi.com/article/detailed?id=5849 The Finance Act's definition of service excludes a transaction in money and an actionable claim, which lack the four elements of service (provider, recipient, actual rendering, and consideration), placing transfers of unsecured debts and beneficial interests in movable property outside service tax; where a separable service element (e.g., factoring or identifiable promotion/marketing) exists, that service component may be taxable, but attempts to tax pure transfers of actionable claims are unsustainable. en-us Mon, 29 Sep 2014 06:27:28 +0530 Mon, 29 Sep 2014 06:27:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=5849 The Finance Act's definition of service excludes a transaction in money and an actionable claim, which lack the four elements of service (provider, recipient, actual rendering, and consideration), placing transfers of unsecured debts and beneficial interests in movable property outside service tax; where a separable service element (e.g., factoring or identifiable promotion/marketing) exists, that service component may be taxable, but attempts to tax pure transfers of actionable claims are unsustainable. Articles Service Tax Mon, 29 Sep 2014 06:27:28 +0530 https://www.taxtmi.com/article/detailed?id=5849