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WHAT ARE THE SPONSERSHIP SERVICES IN CASE OF REVERSE CHARGE(rule 7 of service tax)?

Open uri20170510 32134 1k0mj0y?1494421740 asked

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3 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 answered

If a sponsorship is provided to any body corporate or partnership firm located in taxable territory then the person liable to pay service tax is the recipient of such service as per reverse charge. Also the service provider must be of the following category in case of sponsorship service reverse charge Individual Hindu undivided family Partnership registered.

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Open uri20170510 32134 1et5ppw?1494421765 answered

Dear Praveen, Let's take an example,Mr. X is to organize a football tournament. Mr. Y is providing him funds for conducting this event. . In lieu of amount rcvd from Mr. Y- 1. Mr. X displays hoardings of Mr. Y on football ground 2.Names tournament after Mr. Y 3. Prints name of Mr. Y on sports gear of players 4.Gives Mr. Y exclusive or priority booking rights . . . SO HERE, Mr. Y is sponsor. [Sponsor means a person who gives financial or similar assistance to a person for conducting any event to another person.] Mr. X is providing sponsorship services [Display of name etc.] to Mr. Y. . . **LEGAL POSITION -** -------------------- Normally,SR is liable to pay ST on services provided to SP. So, Mr. X will pay ST on money etc. rcvd from Mr. Y.However, since this case is covered under Reverse charge.Mr. Y will pay ST on amt. paid by him to Mr. X.

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Open uri20170510 32134 1pb5e7b?1494421749 answered

If a sponsorship is provided to any body corporate or partnership firm located in taxable territory then the person liable to pay service tax is the recipient of such service as per reverse charge. Also the service provider must be of the following category in case of sponsorship service reverse charge Individual Hindu undivided family Partnership registered. Or not including limited liability partnership Association of person Service receiver is located in taxable territory must be a business entity For example X ltd. Gets sponsored on an event as organized by ABC Llp and payment is made to ABC llp by X Ltd then service tax on the bill is not to be added in bill. The service tax shall be paid by X ltd. By GAR 7 challan to the department.

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