https://www.taxtmi.com/caselaws?id=368936 The Supreme Court ruled that chit transactions were not liable to service tax under the Finance Act, 1994 for the pre-2012 period, overruling the decision of the Kerala High Court. Between 2012 to 2015, chit fund businesses were also not subject to service tax as the definition of services did not include chit transactions. Post-2015, an amendment excluded chit transactions from tax liability, clarifying that chit transactions were not taxable before this amendment. The Court directed authorities to consider refund applications based on the judgment, setting a limitation period for filing such claims. en-us Wed, 14 Mar 2018 00:00:00 +0530 Wed, 17 Oct 2018 07:42:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=368936 The Supreme Court ruled that chit transactions were not liable to service tax under the Finance Act, 1994 for the pre-2012 period, overruling the decision of the Kerala High Court. Between 2012 to 2015, chit fund businesses were also not subject to service tax as the definition of services did not include chit transactions. Post-2015, an amendment excluded chit transactions from tax liability, clarifying that chit transactions were not taxable before this amendment. The Court directed authorities to consider refund applications based on the judgment, setting a limitation period for filing such claims. Case-Laws Service Tax Wed, 14 Mar 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=368936