16 January 2010
I would like to know the SERVICE TAX APPLICABILITY on the following transaction.
A Bank enters into an agreement with a company for opening of ATM's. Wherby the company shall be responsible for construction of ATM's at the designated site and operate the ATM on behalf of the bank. Bank charges a lump sum amount as "LICENSE FEE" payable by the company on entering into the agreement. My question is the service tax applicablity on the lump sum LICENSE FEE paid. If so under which service??
CAclubindia
