Taxability of agency services remains despite negative-list exemption; agency fees to banks are taxable under service tax law The inserted Illustration clarifies that agency services provided by banks to a central bank constitute input services used for the main service and, notwithstanding the main service's inclusion in the negative list, such agency services for which the agent receives fee, commission or other consideration remain leviable to service tax.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxability of agency services remains despite negative-list exemption; agency fees to banks are taxable under service tax law
The inserted Illustration clarifies that agency services provided by banks to a central bank constitute input services used for the main service and, notwithstanding the main service's inclusion in the negative list, such agency services for which the agent receives fee, commission or other consideration remain leviable to service tax.
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