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Additions in Reverse Charge Mechanism

Service Tax - By: - Pradeep Jain - Dated:- 2-3-2015 Last Replied Date:- 30-12-1899 - The budget 2015 has also bought some additions to the reverse charge list. Altogether 3 services have been added to this list w.e.f. 01/04/2015 by notification no. 7/2015 dt 01/03/2015. These are: Services provided or agreed to be provided by a mutual fund agent or distributor, to a mutual fund or asset management company ; Earlier there was service tax on mutual fund agent and was exempted. Now, the service is .....

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to be paid on each and every commission earned by mutual fund agent. Provided or agreed to be provided by a selling or marketing agent of lottery tickets to a lottery distributor or selling agent; ; Here it is interesting to know that the intention of the law was to levy service tax on the service provided by chit fund foremen and distributor or selling agent agents of lottery but various courts have taken a contrary view in the cases listed below: Delhi Chit fund association 2013 (4) TMI 630 .....

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