Service Tax:
No service tax on corporate guarantee provided by parent company to various banks/financial institutions.
Service tax not leviable under category of Banking and Other Financial Services under reverse charge mechanism on assessee on guarantee fee paid to its parent company for providing guarantee to lenders (foreign banks) as assessee and its parent company for period prior to 1st July, 2012.
IN THE CESTAT, PRINCIPAL BENCH, NEW DELHI INDIA YAMAHA MOTOR PVT. LTD. Versus COMMISSIONER OF CUSTOMS, CENTRAL EXCISE & SERVICE TAX
