PLease provide me the answer to the below mentioned queri urgently here or on my mail id - manpuria_anand @ rediffmail.com
As per my Knowledge on service tax,
Service tax credit can be utilised only by Service recipient and as such the burden of service tax to be borne by service recipient only .
Service Provider collects the service tax from service recipient and pays the same to the Government.
There is an exception in case of Mutual fund distributors (Service Provider). In such case the service tax is directly paid by AMC/ Mutual Fund house (Service Recipient) to the government instead of paying to service provider, who in turn deposits it with the govt. for the credit of service recipient.
Now if a Mutual Fund Distributor provides the service to some other person then can they take a credit of service tax paid by the AMC directly.
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