Reverse charge mechanism:is applicable to nationalised bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2014
We are providing security services to a Nationalised Bank. Whether we have to charge
service tax on 25% of billing amount or on full amount of bill. Please clarify whether Nationalised Bank is within the meaning of Body Corporate or not.
service tax on 25% of billing amount or on full amount of bill. Please clarify whether Nationalised Bank is within the meaning of Body Corporate or not.
MOHAMMAD SALIM
(Expert)
06 October 2014
If you an Individual, HUF, partnership firm or AOP then charge only 25% service tax as balance 75% would be paid by the bank...
Yes nationalized banks are body corporates...
Yes nationalized banks are body corporates...
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