28 November 2013
RBI transfers currency between there own currency chest. were a GTA transports currency on between of RBI's currency chest. But as per the definition of goods, in sale of goods ACT 1930, currency or money are not goods. does it means service tax is exempt because GTA is providing service/ transport which are not considered as goods .
28 November 2013
your interpretation is wrong...gta is liable only if frieght is paid by gta else not...finance act 1994 do not speak about the topic in relation to gta as discussed above.
28 November 2013
Mr sampat. you have understood my question wrong. Here GTA giving a bill for transportation on currency, were NO freight is paid by GTA to any one... bill is for transportation of cash were cash is not considered as good , by definition of goods.
Mr ganesh, negative list 66D, entry(b)describe only service provided by RBI , and not TO RBI. It is not exempted in Mega Exemption List (No.25/2012).
Please suggest whether service Tax is applicable in this condition .
28 November 2013
Section 66 removed from 1st day of July, 2012. plZ keep in mind, RBI is not govt or local authority. It is statutory body.
Notification No. 22 /2012-Service Tax
G.S.R.___(E).- In exercise of the powers conferred by the proviso to section 66 of the Finance Act, 1994(32 of 1994), the Central Government hereby appoints the 1st day of July, 2012 as the date with effect from which the provisions of the said section 66 of the said Act shall not apply, except as respects things done or omitted to be done before the said section 66 so ceases to apply.
28 November 2013
Dear Ramesh, . .. i confirmed once again,,Reversecharge not applicable to RBI,,this is for sure . . because i did RBI Concurrent audit in my first year of articleship.. . . and even RBI have written to CBEC and later it is confirmed by it that Reversecharge not applicable to RBI . . it is internal letter,,if you are doing in RBI ask them to write to CBEC ,,so that they will confirm for you also . . the reason may be "currency" is not good hence service tax not applicable
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