Agency services treated as input services and remain subject to service tax despite main service negative-list status. The inserted illustration clarifies that an agency service provided by a bank to the central banking institution is an input service used for providing ... Summary
Agency services treated as input services and remain subject to service tax despite main service negative-list status.
The inserted illustration clarifies that an agency service provided by a bank to the central banking institution is an input service used for providing the main service and, although the main service is in the negative list, such agency service is not excluded from the levy and is therefore leviable to service tax when consideration is received by the agent bank.
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