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Foreign Bank Charges - Who is the recipient of service in India?


RCM in case of foreign ban charges

Sir,
very good points raised by the learned authors.

There cannot be a situation without RCM liabilty on the banking commission deducted under Section 68(2) of the FA,1994 read with RCM notification and Rule 2(d) of ST Rules in pre-GST era either on the exporter or on his bank(authorised dealer).

Will there be any difference in liabilty on RCM basis if correspndent banks/intermediary banks are also discussed!.

rrkothapally rrkothapally 19/07/2021

 

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