Our company is sponsoring the employees for higher education in foreign countries. Employees who opted for higher education have to work for the next 5 years after obtaining higher education. We will directly pay the fees to Universities. Whether this forex payment attracts service tax under 66A? If yes, are we eligible for service tax credit?
ST to be payable or not? if yes, can we take credit?
Mallikharjun (Deputy Manager) (304 Points)
11 June 2011
CAclubindia
