Investment advisory services to foreign companies qualifies as export of service
The Hon’ble Delhi High Court in M/s. Cube Highways and Transportation Assets Advisor Private Limited v. Assistant Commissioner CGST Division & Ors. held that, the advisory services were treated as ‘export of services’ under service tax and the assessee was not treated as ‘Intermediary’ under the Finance Act, 1994 and since, the definition of ‘Intermediary’ is similar to the definition under Sub-section (13) of Section 2 of the IGST Act therefore the advisory services to be treated as export of service.