Service Tax cannot be Levied on Chit Fund Business: SC

In these appeals, the appellant is Union of India, which has assailed the common judgment and order dated July 14, 2008, passed by High Court of Judicature at Andhra Pradesh, in a batch of writ petitions. Those writ petitions were filed by some chit fund companies (hereinafter referred to as the ‘assessees’) assailing the validity of Circular No. 96/7/2007-ST (Circular No. 034-04) dated August 23,

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