Indian bank is not a service recipient of services provided by foreign bank for export remittance; No ST under RCM

GST/EXCISE/ST/VAT : Where appellant an Indian bank was providing banking services to importers/exporters by facilitating settlement of payment in connection with import and export of goods/services and there was no flow of consideration from appellant bank to foreign bank, appellant bank could not be said to be recipient of any service by foreign bank and, therefore, there would be no liability to pay service tax on a reverse charge mechanism

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