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TO BE PUBLISHED IN PART II, SECTION 3, SUB-SECTION (i) OF THE GAZETTE OF INDIA, EXTRAORDINARY
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 27/2008-Service Tax
New Delhi, the 27
th
May, 2008
G.S.R. (E). In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994), the
Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further
amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 1/2006-
Service Tax, dated the 1
st
March, 2006, vide number G.S.R. 115 (E), dated the 1
st
March, 2006, namely:-
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)
"4
A.
(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
[F.No. 332/3/2008-TRU]
Note:- The principal notification No. 1/2006-Service Tax, dated the 1
st
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 1
st
March,2006 and was last amended
by notification No. 38/2007-Service Tax, dated the 23
rd
August,2007, G.S.R. 565 (E), dated the 23
rd
August,2007.
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