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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....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....