Foreign Exchange Broker - Taxable Services - As appliable on or before 30-6-2012 - Service Tax

Foreign Exchange Broker (w.e.f. 1.7.2003) What is taxable - 65(105)(zzk) Any service provided or to be provided to any person, by a foreign exchange broker, including an authorised dealer in foreign exchange or an authorised money changer, other than a banking company or a financial institution including a non-banking financial company or any other body corporate or commercial concern referred to in sub-clause ( zm );] Services covered by sub-clause (zm) Foreign Exchange Broker - 65(46) "foreign exchange broker" includes any authorised dealer of foreign exchange; Meaning of Authorized Dealer of Foreign Exchange - 65(8) "authorised dealer of foreign exchange" has the meaning assigned to "authorised person" in clause (c) of section 2 of the Foreign Exchange Management Act, 1999; As per clause (c) of section 2 of the Foreign Exchange Management Act, 1999 "authorised person" means an authorised dealer, money changer, offshore banking unit or any other person for the time being authorised under sub-section (1) of section 10 to deal in foreign exchange or foreign securities; As per sub section (1) of section 10 of the Foreign Exchange Management Act, 1999 The Reserve Bank may, on an application made to it in this behalf, authorise any person to be known as authorised person to deal in foreign exchange or in foreign securities, as an authorised dealer, money changer or off-shore banking unit or in any other manner as it deems fit. ************************* A. As per Paragraph No 6. of Circular No. 96/7/2007 dated 23/8/2007 states that :- "6. This circular supersedes all circulars, clarifications and communications, other than Orders issued under section 37B of the Central Excise Act, 1944 (as made applicable to service tax by section 83 of the Finance Act, 1994), issued from time to time by the CBEC, DG (Service Tax) and various field formations on all technical issues including the scope and classification of taxable services, valuation of taxable services, export of services, services received from outside India, scope of exemptions and all other matters on levy of service tax. With the issue of this circular, all earlier clarifications issued on technical issues relating to service tax stand withdrawn."