No service tax will be levied on the service provided by an Indian Bank or other entity acting as an agent to the Money Transfer Service Operators (MTSO) in relation to remittance of foreign currency from outside India to India from 1.7.12 to 13.10.14 - 19/2015 - Service Tax

Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No. 19/2015-Service Tax New Delhi, the 14 th October, 2015 22 Asvina 1937 Saka G.S.R. (E).- Whereas, the Central Government is satisfied that in the period commencing on and from the 1 st day of July, 2012 and ending with the 13 th day of October, 2014 (hereinafter referred to as the said period) according to a practice that was generally prevalent, there was non levy of service tax on the services provided by an Indian Bank or other entity acting as an agent to the Money Transfer Service Operators (hereinafter referred to as MTSO), in relation to remittance of foreign currency from outside India to India (hereinafter referred to as the said practice), and this service was liable to service tax, which was not being paid according to the said practice. Now, therefore, in exercise of the powers conferred by section 11C of the Central Excise Act, 1944 (1 of 1944) as made applicable to like matters in Service Tax vide section 83 of the Finance Act, 1994 (32 of 1994), the Central Government hereby directs that the service tax payable under section 66B of the Finance Act, 1994, on the service provided by an Indian Bank or other entity acting as an agent to the MTSO in relation to remittance of foreign currency from outside India to India, in the said period, but for the said practice, shall not be required to be paid. (Himani Bhayana) Under Secretary to the Government of India [F.No. 137/51/2014-Service Tax]