Consultancy Service for Share Placement Exempt from Service Tax on Merchant Banking Activities Before August 2002.

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....Management Consultancy services - private placement of shares of the client - Since the transaction was undertaken in January, 2000 and the merchant banking activities rendered by ‘body corporate’ came under the tax net w.e.f. August, 2002, prior to that period no service tax would be leviable on merchant banking activity - AT....