Service tax on services provided to rbi under reverse charge

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CA Mahesh (Querist)
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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

CA CS Amit S. Kedia (Expert)
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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.

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CA Mahesh

CA Mahesh (Querist)
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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.

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CA.Vinita Gupta

CA.Vinita Gupta (Expert)
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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

CA CS Amit S. Kedia (Expert)
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04 October 2012 Dear Mahesh, pls read the reply again i have modified it.

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CA Mahesh

CA Mahesh (Querist)
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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

CA CS Amit S. Kedia (Expert)
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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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