NTF. NO. 27/2008-ST, DT. 27/05/2008
- Document type
- Notification
- Reference no.
- J
- Dated
- Category
- ST Notifications 2008
Amends notification No. 1/2006-ST, Dt. 01/03/2006 (Chit - means a transaction whether called chit, chit fund, chitty, kuri)
Amends notification No. 1/2006-ST, Dt. 01/03/2006 (Chit - means a transaction whether called chit, chit fund, chitty, kuri)
In the said notification, in the Table, after S.No.4, and the entries relating thereto, the following serial number and entries shall be inserted, namely: -
| (1) | (2) | (3) | (4) | (5) |
| 4A. | (zm) | Services provided in relation to chit. Explanation.- Chit means a transaction whether called chit, chit fund, chitty, kuri, or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead) by way of periodical installments over a definite period and that each subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount. | - | 70. |
(G.G. Pai)
Under Secretary to the Government of India
Note:- The principal notification No. 1/2006-Service Tax, dated the 1st March,2006, was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number G.S.R. 115(E), dated the 1st March,2006 and was last amended by notification No. 38/2007-Service Tax, dated the 23rd August,2007, G.S.R. 565 (E), dated the 23rd August,2007.