Brief of the Notification:- By Notification No. 19/2009 dated 07.07.2009, service provided by one scheduled bank to another scheduled bank in relation to interbank transactions of purchase and sale of foreign currency, was exempted. Now this exemption is available to any bank, including a bank located outside India, or money changer.
Notification No 27/2011–Service Tax, Dated : March 31, 2011
In exercise of the powers conferred by of sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 19/2009-Service Tax, dated the 7th July, 2009, published in the Gazette of India, Extraordinary, vide number G.S.R.491 (E), dated the 7th July, 2009, for the words “a Scheduled bank, by any other Scheduled bank”, the words “any bank, including a bank located outside India, or money changer, by any other bank or money changer” shall be substituted.
2. This notification shall come into force on the 1st day of April, 2011.
F. No. 334/3/2011-TRU
(SAMAR NANDA)
Under Secretary to the Government of India
Note : – The principal notification No. 19/2009-Service Tax, dated the 7th July, 2009, published in the Gazette of India, Extraordinary, vide number G.S.R.491 (E), dated the 7th July, 2009.
