Only following services exempt:
Services provided by-
(a) an arbitral tribunal to –
(i) any person other than a business entity; or
(ii) a business entity with an aggregate turnover up to twenty lakh rupees (ten lakh rupees in the case of special category states) in the preceding financial year;
(iii) the Central Government, State Government, Union territory, local authority, Governmental Authority or Government Entity;
If provided to a business entity other than above, then liable under reverse charge mechanism.
CAclubindia
