Service Tax cannot be levied on chit transactions between 2012 and 2015

All Kerala Association of chit funds Vs Union of India (Kerala High Court)

The issue agitated by the Revenue is as to whether between 2012 and 2015 there could be tax levied on the chit transactions deeming it to be a service, which has not been excluded in the definition nor included in the negative list. To answer this, we just have to notice para 21 of the decision of the Honorable Supreme Court, which is extracted below:-.

“The aforesaid historical background wou

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