https://www.taxtmi.com/manuals?id=1549 Services by a foreman of chit fund are taxable on an abated value (70% of the consideration) provided CENVAT credit on inputs, input services and capital goods used to provide the taxable service has not been availed; the abatement was withdrawn in 2015 then reinstated in 2016. The definition of "foreman of chit fund" was aligned with the Chit Funds Act by amendment. en-us Sat, 16 Jul 2016 16:09:00 +0530 Fri, 22 Jul 2016 18:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1549 Services by a foreman of chit fund are taxable on an abated value (70% of the consideration) provided CENVAT credit on inputs, input services and capital goods used to provide the taxable service has not been availed; the abatement was withdrawn in 2015 then reinstated in 2016. The definition of "foreman of chit fund" was aligned with the Chit Funds Act by amendment. Manuals Service Tax Sat, 16 Jul 2016 16:09:00 +0530 https://www.taxtmi.com/manuals?id=1549