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August 2009

Notification No. 19/2009-Service Tax, dated 7-7-2009 : w.r.t. sub-clause (zzb) and (zzp) of clause (105) of S. 65.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Tarun Ghia, Nimesh Dedhia, Vijay Kewalramani
Chartered Accountants
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Part B : Indirect taxes

Updates in VAT and Service Tax :

MVAT UPDATE

Mvat Notifications

  1. Notification No. 19/2009-Service Tax, dated 7-7-2009 :
    w.r.t. sub-clause  (zzb) and (zzp) of clause (105) of S. 65.

By this Notification services in relation to transaction of
purchase and sale of foreign currency between scheduled banks have been made
exempt. This exemption is applicable only for banks included in Second
Schedule of the Reserve Bank of India Act, 1934.

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