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CA Dipesh Parasrampuria

Latest Articles


RBI Notification on Entry of Banks into Insurance Business

Fema / RBI : With the objective of increasing insurance penetration using the entire network of bank branches, the Finance Minister in the budg...

January 31, 2015 1850 Views 0 comment Print

Service Tax on Support Services provided by Government of India

Service Tax : Any service provided by the Government is not taxable since it is covered under the Negative List. However certain services (speci...

December 8, 2014 16060 Views 1 comment Print

Service Tax on Guarantee provided by Government of India (GoI)?

Service Tax : Government of India charges a certain % of amount borrowed as Guarantee fees for the Guarantee provided to the ECB Lender. Usually...

December 6, 2014 9050 Views 4 comments Print


Latest Posts in CA Dipesh Parasrampuria

RBI Notification on Entry of Banks into Insurance Business

January 31, 2015 1850 Views 0 comment Print

With the objective of increasing insurance penetration using the entire network of bank branches, the Finance Minister in the budget speech 2013-14 announced that banks will be permitted to act as insurance brokers. Consequent to the announcement, IRDA formulated and notified the IRDA (Licensing of Banks as Insurance Brokers) Regulations, 2013 to enable banks to take up the business of insurance broking departmentally.

Service Tax on Support Services provided by Government of India

December 8, 2014 16060 Views 1 comment Print

Any service provided by the Government is not taxable since it is covered under the Negative List. However certain services (specified in section 66D (a)(i) to (iv) of the Finance Act, 1994) provided by government are taxable as they are covered under exceptions to the negative list.

Service Tax on Guarantee provided by Government of India (GoI)?

December 6, 2014 9050 Views 4 comments Print

Government of India charges a certain % of amount borrowed as Guarantee fees for the Guarantee provided to the ECB Lender. Usually Service Tax is applicable on the Guarantee fee charged by Banks and other institutions but whether it is applicable in the case where GoI is providing guarantee in respect of an ECB?

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