Service tax liability on services received abroad
This query is : Resolved
13 July 2009
Our Company, based in India, has paid lead managers fee in foreign currency for a foreign based service provider for issue of FCCB. Apparently, services were rendered and consumed in a foreign country.
Are we liable to pay service tax on payments made to Foreign based lead manager? If so, under what section.Please clarify.
Are we liable to pay service tax on payments made to Foreign based lead manager? If so, under what section.Please clarify.
13 July 2009
If the service is in relation to business and commerce, and the category of service falls under third category then irrespective of performance service tax will need to be paid.
This service most likelty to fall as arranger fees falling under banking and financial services and subject to service tax under reverse charge
This service most likelty to fall as arranger fees falling under banking and financial services and subject to service tax under reverse charge
14 July 2009
if services are consumed outside India, then service tax will not be paid.
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