Services tax on listing contract

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SARJEET SHEKHAWAT (Querist)
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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. ???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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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SARJEET SHEKHAWAT

SARJEET SHEKHAWAT (Querist)
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14 June 2017 If Indian company pay listing fees to london stock exchange

SARJEET SHEKHAWAT

SARJEET SHEKHAWAT (Querist)
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14 June 2017 Now whether indian company liable to pay services tax under reverse charge in india?.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 June 2017 Not liable as service is rendered out side the taxable territory.

SARJEET SHEKHAWAT

SARJEET SHEKHAWAT (Querist)
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14 June 2017 Thanks for your reply sir......
But I don't understand what is the meaning of rendered outside the taxability territory.....????

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

SARJEET SHEKHAWAT

SARJEET SHEKHAWAT (Querist)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

SARJEET SHEKHAWAT

SARJEET SHEKHAWAT (Querist)
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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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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.

SARJEET SHEKHAWAT

SARJEET SHEKHAWAT (Querist)
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14 June 2017 thanks so much... ......

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