Service tax on services provided to rbi under reverse charge
This query is : Resolved
04 October 2012
Dear sir, if any service which is coverd under reverse charge is renderd to rbi . Then is rbi liable to par service tax?
CA CS Amit S. Kedia
(Expert)
04 October 2012
All services provided by the Reserve Bank of India are in the negative list.
RBI is also not liable under reverse charge. since it is not a body corporate. it is central bank being a statutory body set up under special act and fully owned by GOI.
RBI is also not liable under reverse charge. since it is not a body corporate. it is central bank being a statutory body set up under special act and fully owned by GOI.
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04 October 2012
Dear Amit Sir,
Thank you for reply, sir you have given answer for service provided by the RBI. but my doubt is services provided to RBI by other service providers for services which are covered under reverse/partial reverse charge. in such case is RBI liable to pay service tax under reverse charge???
Kindly give reply sir.
Thank you for reply, sir you have given answer for service provided by the RBI. but my doubt is services provided to RBI by other service providers for services which are covered under reverse/partial reverse charge. in such case is RBI liable to pay service tax under reverse charge???
Kindly give reply sir.
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CA.Vinita Gupta
(Expert)
04 October 2012
RBI will not be liable to pay as it is covered under Negative List. Agreed with Mr. Amit
CA CS Amit S. Kedia
(Expert)
04 October 2012
Dear Mahesh, pls read the reply again i have modified it.
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04 October 2012
Thank you so much sir, i argee with you but there was no notification or circular regarding this.
CA CS Amit S. Kedia
(Expert)
04 October 2012
pls read the partial reverse charge mechanism wherein it is clearly mentioned that it is applicable only if the service receiver is a body corporate
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