Banking and other financial services - RCM - So far the SWIFT ...

February 3, 2022

Case Laws Service Tax AT

Banking and other financial services - RCM - So far the SWIFT charges are concerned, the privity of contract is between the Indian Bank and the SWIFT society. Thus, the receiver of the services is the Indian Bank, and not the appellant/assessee. - The appellant/assessee only have reimbursed such SWIFT charges to the Indian bank. Accordingly, the appellant is not the receiver of SWIFT services, hence not liable to pay service tax on the same - AT

View Source

← Previous Next →

Banking and other financial services - RCM - So far the SWIFT ...

February 3, 2022

Case Laws Service Tax AT

You may also like:

Reverse charge mechanism - Banking & other financial services - recipient of services or not - services provided by the Foreign Banks situated outside India - The...

Banking and Financial services Section 65(12) r.w.s 105)(zm) - Fixed amount charged as lease of equipment - the appellants are not a banking company or a financial...

Foreign Banks Charges - liability of service tax - reverse charge mechanism - Indian Banks are recipient of service, therefore, the appellant cannot be held as recipient...

RCM - payment of guarantee fee towards receipt of Bank Guarantees - These are not the guarantees provided by a corporation for it’s subsidiaries but are pure bank...

Service tax liability on foreign bank charges and finance costs paid in foreign currency. It discusses the absence of a service provider-recipient relationship between...

Liability of service tax - reverse charge mechanism - overseas banks has deducted certain bank charges from the export realization of the appellant’s export - Even...

Banking and other Financial Services - reverse charge mechanism - The foreign banks while remitting the money to the Indian Bank, deduct their charges for collection of...

Classification of services - Banking and other Financial Services or not - Since the basic function of the appellant is to construct the houses and then to sell it...

Mandatory payment of GST under reverse charge mechanism (RCM) on supply of services - Notification as amended

Encashment of Bank Guarantees during CIRP period - scope of moratorium u/s 14 of IBC - If bank guarantee is beyond the mentioned amount in the bank guarantee, if the...

Whether the payment made by the applicant to Society for Worldwide Inter-bank Financial Telecommunication (SWIFT) for transfer of funds to members Banks is liable to...

TDS u/s 194H on payments made to Banks towards cash pick up charges - charges for cash pick up ( or also called as cash management services) paid by assessee to Banks...

Non-payment of service tax on management consultancy services, royalty services, intellectual property right services, business auxiliary services, and banking and...

Classification of services - Goods or service - No VAT may be payable on some goods under the state laws but that does not convert the Works Contract Service into a pure...

Levy of service tax - banking and other financial services - Demat/ Depository charges collected from sub brokers - stock broker service - Transaction/ administrative...

Quick Updates: