08 May 2014
Dear Sir Please clarify with regard to service tax one of my clients is doing export business from Visakhaptanm port to Vietnam port. Prawn export. here my client is paying shipment insurance premia to london based company. whether it attracts service tax. is it comes under reverse charge mechanism. if it comes under RCM, I think it is applicable only from 1st July, 2012. Insurance is only for any lose or damage of good during the voyage.
CAclubindia
