https://www.taxtmi.com/caselaws?id=333780 A nationalised bank appointed by the RBI as its agent for collecting and remitting government taxes was considered entitled to the service tax exemption under Notification No. 22/2006-ST on commission earned for those functions. The reasoning was that the RBI is the statutory banker of the Government, may appoint banks as its agents under the RBI Act, 1934, and the Finance Act, 1994 treats an assessee's agent within the tax framework. On that basis, services performed by the agent in discharge of RBI government-banking functions were treated as covered by the exemption, and the commission was held not chargeable to service tax. en-us Mon, 17 Oct 2016 00:00:00 +0530 Wed, 01 Nov 2023 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333780 A nationalised bank appointed by the RBI as its agent for collecting and remitting government taxes was considered entitled to the service tax exemption under Notification No. 22/2006-ST on commission earned for those functions. The reasoning was that the RBI is the statutory banker of the Government, may appoint banks as its agents under the RBI Act, 1934, and the Finance Act, 1994 treats an assessee's agent within the tax framework. On that basis, services performed by the agent in discharge of RBI government-banking functions were treated as covered by the exemption, and the commission was held not chargeable to service tax. Case-Laws Service Tax Mon, 17 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333780