Services tax on listing contract
This query is : Resolved
10 June 2017
If an indian company issue FCCB in foreign contary( say in USA) . For issue such securities law require to list such securities in USA STOCK EXCHANGE . For listing such FCCB in stock exchange indian recive services from local firm of new York and pay processing fees to such new York firm.
My question is whether indian company liable to pay services tax under reverse charge in india on services recive from local firm of New York. ???
My question is whether indian company liable to pay services tax under reverse charge in india on services recive from local firm of New York. ???
10 June 2017
It will fall under 9(c) intermediary service of POP rules hence service tax under reverse charge not applicable.
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14 June 2017
If Indian company pay listing fees to london stock exchange
14 June 2017
Now whether indian company liable to pay services tax under reverse charge in india?.
14 June 2017
Not liable as service is rendered out side the taxable territory.
14 June 2017
Thanks for your reply sir......
But I don't understand what is the meaning of rendered outside the taxability territory.....????
But I don't understand what is the meaning of rendered outside the taxability territory.....????
14 June 2017
Taxable territory has been defined in sub-section 52 of section 65B. It means the territory to which the provisions of Chapter V of the Finance Act, 1994 apply i.e. whole of India excluding the state of Jammu and Kashmir. "Non-taxable territory" is defined in sub-section 35 ibid accordingly as the territory other than the taxable territory.
14 June 2017
yes i komw taxable terrotory and non-taxable tarritory .....in such case how can we proof that such service not recived in india.
14 June 2017
Listing in London stock exchange is an event.
6. Place of provision of services relating to events.-
The place of provision of services provided by way of admission to, or organization of, a cultural, artistic, sporting, scientific, educational, or entertainment event, or a celebration, conference, fair, exhibition, or similar events, and of services ancillary to such admission, shall be the place where the event is actually held.
6. Place of provision of services relating to events.-
The place of provision of services provided by way of admission to, or organization of, a cultural, artistic, sporting, scientific, educational, or entertainment event, or a celebration, conference, fair, exhibition, or similar events, and of services ancillary to such admission, shall be the place where the event is actually held.
14 June 2017
But i Think listing in London stock exchange is not an event because Rule 6 defined ........................ a cultural, artistic, sporting, scientific, educational, or entertainment event, or a celebration, conference, fair, exhibition, or similar events, and of services ancillary to such admission
14 June 2017
It is only for example such sports events are given. Listing is an event held outside India. This Rule is applicable for all events.
Nothing more to add from my side.
Nothing more to add from my side.
14 June 2017
thanks so much... ......
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