04 August 2013
Please see the deinition and meaning of body corporate under service tax. corporate.
If LIC and UPPC are registered under these category, they will also be covered.
As per rule 2(bc) of Service Tax Rules, ‘body corporate’ has meaning assigned to it in section 2(7) of Companies Act, 1994.
As per section 2(7) of Companies Act, ‘body Corporate’ or ‘corporation’ includes a company incorporated outside India, but does not include – (a) Corporation Sole (b) Registered Cooperative Society (c) Any other body corporate (Except a company defined under Companies Act) as may be notified by Central Government.
Society registered under Societies Registration Act is not a ‘body corporate’.
A trust is not a ‘body corporate’.
A company registered under section 25 of Companies Act is a ‘body corporate’.
CAclubindia
