Service Tax - services in relation to a forward contract - retrospectively exempted
BY a retrospective exemption, Government has directed that the service tax payable on the services provided by an authorised person or sub-broker to the member of a recognised association or a registered association, in relation to a forward contract, shall not be required to be paid in respect of such taxable service on which the service tax was not being levied during the period commencing from the 10th day of September 2004 and ending with the 30th day of June 2012.
From 1.7.2012, this activity is outside the purview of service.
Notification No. , Dated: February 03 2014