05 July 2013
Our Client is providing Sponsorship Service. Against the same it has received Sponsorship from Foregin body Corporate. As 100% reverse charge is applicable in sponsorship service,service receiver is liable for payment of service tax . But in our case as service receiver is foregin body coporate ,our client is liable for payment of service tax??
Now mine query is can the same payment be made through the utilisation of credit or compulsory it need to be paid in cash??
-answering with relevant provison or notification any will be really helpful.
CAclubindia
