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Firms with sale of over 10lac who go in for arbitration have to pay service tax

Business entities with a turnover of over Rs10Lac would have to pay service tax @ 14% on arbitration proceedings. These services are taxable under the reverse charge mechanism of service tax ie firms who are receiving services from arbitrator have to deposit service tax by themselves.

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Firms with sale of over 10lac who go in for arbitration have to pay service tax

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Firms with sale of over 10lac who go in for arbitration have to pay service tax