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2014 (11) TMI 503 - AT - Service TaxBanking and Finance Institution service - Reverse charge mechanism - Invocation of extended period of limitation - Held that:- money lender BNP Paribas has secured the loan amount lended (sic) to appellant from COFACE France and have secured their money they have paid insurance guarantee to COFACE France. When these facts are clear in this case, therefore, the service receiver is BNP Paribas and the service provider is COFACE, France. The appellant is only the beneficiary of the transaction held between BNP Paribas and COFACE, France. As the appellant is neither service provider nor service recipient, the appellant is not liable to pay service tax at all under Reverse charge mechanism - Decided in favour of assessee.
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