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2018 (8) TMI 900 - AT - Service TaxBanking and other Financial Services - appellant, is a banking company and a body corporate, conducting their operations in India - It was alleged that the services provided by the appellant to the RBI amounted to providing a taxable service under the Banking and other Financial Services which was taxable from 10.09.2004 - Held that:- There is no ambiguity with reference to the Notification; therefore, the submission of the departmental representative for strict interpretation is not warranted. There is no doubt that the exemption is given vide N/N. 22/2006-ST dated 31.5.2006 is applicable to RBI. In terms of Section 65(7) of the Finance Act, 1994, “Assessee means a person liable to pay the service tax and includes his agent”. Under Section 45 of the RBI Act, it provides that RBI can nominate other banks as its agent at all places or at any place in India for such purpose as the Bank may specify. Therefore, reading the Notification and Section 65(7) of Finance Act, 1994 and the powers vested with RBI to appoint their agents, there is no hesitation in concluding that the exemption available to RBI in discharge of its functions should be available to the appellant working as the Agents of RBI in terms of the Agreement. Appeal allowed - decided in favor of appellant.
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