Information regarding private providers of safe deposit vaults - Reg. - Service Tax - F.No. V/DGST/21(9)/B&FS/01/2007

Information regarding private providers of safe deposit vaults - Reg. DIRECTORATE GENERAL OF SERVICE TAX 9th Floor, Piramal Chamber, Jijibhoy Lane, Lalbaug, Parel, Mumbai-400012 F.No. V/DGST/21(9)/B FS/01/2007 Dated : January 3, 2008 Subject : Information regarding private providers of safe deposit vaults - Reg. Your attention is drawn to Section 65(105) (zm) of the Finance Act, which states "taxable service is a service provided or to be provided to a customer, by a banking company or a financial institution including a non-banking financial company or any other body corporate or any other person [substituted for commercial concern through budget 2007-08] in relation to banking and other financial service". The activities of other financial services namely, lending, issue of pay orders, demand draft, cheque, letter of credit and bill of exchange transfer of money including telegraphic transfer, mail transfer and electronic transfer providing bank guarantee, over draft facility, bill accounting facility safe deposit locker, safe vaults operation of bank account are falling under the category of 'Banking and other financial service'. In view of above the private service providers of safe deposit vaults are liable to pay Service Tax under the said category of service. You are requested to intimate the number of private service providers of safe deposit vaults working in your jurisdiction and whether any Service Tax is being paid for the services rendered by them in the following proforma. (1) (2) (3) (4) Sl. No Name of the Assessee Since when registered Amount of Service Tax paid for the period april-07 to Sept-07 The matter may please be treated very urgent and report be forwarded by 21.1.2008. (H.K. Mittal) Additional Director General