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2008 (10) TMI 72 - CESTAT MUMBAIGeneral insurance services - Finance Act, 2004, increased the rate of service tax to 10% from the earlier rate of 8% - revenue contend that appellants are required to pay service tax at the revised rate - held that enhanced rate is not applicable for the amounts subsequently collected as EMI - as the premium is received in advance and no further amount is collected, tax in force on date of payment of premium in advance is leviable – therefore, demand is set aside - Appeal is allowed.
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