Commisson paid to Foreign bank
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 February 2011
Service catagory of "Banking & Finc services" covers banking companies as per sec 45A(a) of RBI. If bank gurantee commission is paid to some foreign bank in foreign country, will this attract service tax by way of revers charge
23 February 2011
Service Tax is payable under Section 66A as banking services, Section 65(105)(zm) falls under category (iii) of Rule 3 of Import of Services Rule.
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