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2015 (10) TMI 2221 - AT - Service TaxExport of services or not - rendered or delivered outside India - Denial of rebate claim of service tax paid under Notification No.11/2005-ST on custodial services provided to Foreign Institutional Clients (FII’s) located outside India – compliance of condition of Rule 3 (ii) of the Export of Service Rules, 2005 - Receipt in convertible foreign exchange. Held That:- Services rendered to Foreign Institutional Clients in respect of investments made by them in India - Services are for the companies situated abroad hence they are rendered or delivered outside India - Taxable services provided shall be treated as export of service only when order for provision of such service is made from any of his commercial establishment or office located outside India as per Rule 3(ii). - ussue for the period May 2006 to February 2007 is covered in case of Nipuna Services Ltd. (supra) [2008 (11) TMI 148 - CESTAT Bangalore] - Decided in favor of assessee. Rebate claim for the Month of March 2007 - there is a change in the provisions of Rule 3(ii) of the Export of Service with effect from 01.03.2007, which mandates the requirement of payment of the services provided, in convertible foreign exchange. - Matter remanded back for rebate claim relating to March 2007 – Decided partly in favour of assessee.
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