NO SERVICE TAX ON MONEY CHANGERS
Central Board of Excise & Customs
(CBEC) has clarified that services
provided by money changers in relation to
sale and purchase of foreign exchange at
the prevalent market rates is not liable to
service tax under the head ‘Banking and
Other Financial Services’. (Circular No.
92/3/2007-ST, dated 12th March, 2007)
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