Whether Finance Companies providing banking and Financial services and having proprietary/partnership status are liable to Service Tax? 

The Banking and Financial services provided by a banking company or a financial institution including a non banking financial company or any other body corporate is chargeable to Service Tax.  The term body corporate means a private limited public limited company or a Government company.  Such companies should be either a banking company or a financial institution or non banking financial company to come under the tax net.  In other words individuals proprietorship or partnership firms will not come under the tax net. 

Whether buying and selling of foreign exchange by the authorised dealers and money changers are under Service Tax net? 

Only the service of “Foreign Exchange Broking” when provided by the foreign exchange brokers, authorized dealers and money changers has been brought under tax net.