Foreign Banks' Services to Indian Exporters Not Taxable Under RCM; No Service Tax for Appellant Bank.

Foreign Banks' Services to Indian Exporters Not Taxable Under RCM; No Service Tax for Appellant Bank. https://www.taxtmi.com/highlights?id=54266 Reverse charge mechanism - Banking & other financial services - recipient of services or not - services provided by the Foreign Banks situated outside India - The Appellant Bank has not paid any consideration to the Foreign Bank - The Appellant Bank merely acts on behalf of the Indian exporter and facilitates the service. The Appellant Bank, therefore, would not be liable to pay service tax under the RCM - AT en-us Thu, 06 Aug 2020 07:17:10 +0530 Thu, 06 Aug 2020 07:17:10 +0530 TaxTMI RSS Generator Foreign Banks' Services to Indian Exporters Not Taxable Under RCM; No Service Tax for Appellant Bank. https://www.taxtmi.com/highlights?id=54266 Reverse charge mechanism - Banking & other financial services - recipient of services or not - services provided by the Foreign Banks situated outside India - The Appellant Bank has not paid any consideration to the Foreign Bank - The Appellant Bank merely acts on behalf of the Indian exporter and facilitates the service. The Appellant Bank, therefore, would not be liable to pay service tax under the RCM - AT Highlights Service Tax Thu, 06 Aug 2020 07:17:10 +0530 https://www.taxtmi.com/highlights?id=54266