madhur (Service) (31 Points)
10 April 2012Dear Professionals, I had a query regarding new definition of services proposed in budget :- The new definition specifically excludes the services provided by any court or tribunal established in any law for the time being force.
On the other hand, the notification 15/2012 regarding reverse charge includes services provided or agreed to be provided by an arbitral tribunal.
So my question is that whether such arbitral tribunal is not covered in specific exclusion of defination of services.
Amol S Joglekar
(Partner)
(63520 Points)
Replied 11 April 2012
Not all arbitrators fall under the category of tribunal established in any law for the time being force.
Accordingly the services of arbitral tribunals will be taxable (Negative List) since it is not established under any law for the time being in force.
madhur
(Service)
(31 Points)
Replied 13 April 2012
Thanks for your reply... but whether it is possible that any tribunal is not registered or covered in any Act?? arbitrary tribunal must have registered in any Act...... otherwise its designs will not be binding or have legal effect... also there are no notification or clerifications are issued yet on this issue..
Amol S Joglekar
(Partner)
(63520 Points)
Replied 14 April 2012
Yes, there are instances where Arbitrary Tribunals are formed in PPP model (Public Private Partnerships).
CAclubindia
