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![Service Tax cannot be Levied on Chit Fund Business as it would not amount to ‘Fund Management’: SC [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2017/07/Chit-Fund-Service-Tax.jpg "Service Tax cannot be Levied on Chit Fund Business as it would not amount to ‘Fund Management’: SC [Read Judgment]")
Service Tax cannot be Levied on Chit Fund Business as it would not amount to ‘Fund Management’: SC [Read Judgment]
A two-judge bench of the Supreme Court in Union of India & Ors v. M/S. Margadarshi Chit Funds (P) Ltd. etc, categorically held that the chit fund...