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TMI Blog2017 (2) TMI 1347X X X X Extracts X X X X X X X X Extracts X X X X ..... on 45 of the RBI Act. RBI itself has been entrusted by the Central Government to transact Government business. Hence the bank has been appointed as agent of RBI, it is transacting Government business which is in the nature of a sovereign function performed on behalf of the Government and hence not liable to service tax - appeal allowed - decided in favor of appellant. - ST/COD/30518/2016 in ST/26 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... application. 3. The brief facts of the case are that the appellant is a subsidiary of State Bank of India and was authorised by the RBI to transact the Government business in India which are to received and also remit money on behalf of the Government of India. It is claimed that the appellant is the agent of the RBI under Section 21A of the RBI Act and powers to transact the Government busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een entrusted by the Central Government to transact Government business. Hence the bank has been appointed as agent of RBI, it is transacting Government business which is in the nature of a sovereign function performed on behalf of the Government and hence not liable to service tax. 6. In the light of the well settled legal position, we find no merit in the impugned order. The same is set aside ..... X X X X Extracts X X X X X X X X Extracts X X X X
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