TaxTMI 
TaxTMI 
Payment of Service Tax under Reverse Charge basis-clarification
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....cation regarding. As per Sec 68 of Finance Act, 1994 every person providing Taxable Service shall pay Service Tax at the prescribed rates. However Sub Section (2) of section 68 empowers the government to notify persons other than the provider of service as liable to pay Service Tax either fully or partially and such persons are also required to comply with all the statutory formalities like regis....
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....by Mutual Fund Agent or distributor: to Mutual Fund or Asset Management Company NIL 100% 4 Service by selling or Marketing agent of Lottery: to a Lottery Distributor or selling agent NIL 100% 5 Service by Goods Transport Agency: for transport of goods by Road NIL 100% 6 Sponsorship Service: provided to body corporate or partnership firm. NIL 100% 7 Arbitral Tribunal Service: Busine....
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....located in taxable territory NIL 100% 15 Aggregator NIL 100% * In the case of Service of a Goods Transport Agency, reverse charge is applicable only when the person paying freight is (i) a factory or (ii) a society or (iii) co-operative society or (iv) dealer of excisable goods or (v) body corporate or (vi) partnership whether registered or not including Association of person * In the ....
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.... in the preceding financial year are exempt and hence reverse charge also will not be applicable Services by arbitral tribunal to business entity with turnover less than ₹ 10 Lakhs is exempt. * Exemption available to a small service provider with aggregate value of taxable turnover less than ₹ 10 Lakhs in the previous financial year is not available to a person paying Service Tax on....