SERVICE TAX ON PROCEESSING FESS BY FOREIGN BANK

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..... SERVICE TAX ON PROCEESSING FESS BY FOREIGN BANK
Query (Issue) Started By: - SNEHAL SHAH Dated:- 24-1-2013 Last Reply Date:- 25-1-2013 Service Tax
Got 2 Replies
Service Tax
R/sir, We have .....

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..... applied Term Loan from Foreign Bank Branch located at Japan & Processing fess for term loan paid in Foreign Currency 10000 US DOLLAR . Is Service Tax Liability on this Processing fess on Indian Com .....

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..... pany ? if Yes please brief . Advance thank for valuable reply . Thanks and Regards, SNEHAL SHAH Reply By Pradeep Khatri: The Reply: Yes, you are liable to pay the service tax under Reverse charge .....

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..... mechanism read with Place of provisions of services Rules. Further, you may avail the CENVAT credit on the strength of the GAR-7 Challan. Reply By sanjeev bajaj: The Reply: Yes, it is service as th .....

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..... e processing fee is not covered in negative list. Agreed as it is payable on reverse charge mechanism. (Sanjeev Bajaj)
Discussion Forum - Knowledge Sharing .....

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