Service tax liability for private safe deposit vault providers affirmed; authorities require reporting of providers and tax payments. Private providers of safe deposit vaults are classed under Banking and Other Financial Service and are liable to pay Service Tax. Authorities must report the number of such private providers in their jurisdiction, registration status and whether Service Tax was paid for April-September 2007, using the prescribed proforma, with the report to be forwarded urgently by 21 January 2008.
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Service tax liability for private safe deposit vault providers affirmed; authorities require reporting of providers and tax payments.
Private providers of safe deposit vaults are classed under Banking and Other Financial Service and are liable to pay Service Tax. Authorities must report the number of such private providers in their jurisdiction, registration status and whether Service Tax was paid for April-September 2007, using the prescribed proforma, with the report to be forwarded urgently by 21 January 2008.
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