TaxTMI 
TaxTMI 
A company provided the expenses of board meeting fee in its books as on 31/03/14.
Whether company is required to pay service tax on such board meeting fee or director will pay it.
PAYMENT OF SERVICE TAX ON MEETING FEE
14 Sep 2014 
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Service tax on directors' sitting fees: reverse charge applies to non-executive directors, with no abatement and interest for delay.
The company must pay service tax under the reverse charge mechanism on directors' sitting fees recorded as of 31/03/2014, with interest for late payment; no abatement applies and the full fee is taxable, although sitting fees to whole time/executive directors are treated as not subject to service tax while fees to non-executive directors are taxable. (AI Summary)
The company must pay service tax under the reverse charge mechanism on directors' sitting fees recorded as of 31/03/2014, with interest for late payment; no abatement applies and the full fee is taxable, although sitting fees to whole time/executive directors are treated as not subject to service tax while fees to non-executive directors are taxable. (AI Summary)