Service Tax Reverse Charge on Overseas Financial Services Challenged; Limitation Period and Penalties Under Review.

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....Reverse charge mechanism - Levy of service tax - Banking and Financial Services - service provider located outside India - time limitation - penalty - revenue neutrality - various service provider viz. Merchant Bankers, Lead Managers, Advisors, Financial Advisors, Principal Agents, Legal Advisors, Management Consultants, Under writers, etc. - Demand of service tax confirmed - Regarding period of limitation, matter remanded back - AT....