TMI Blog2006 (12) TMI 473X X X X Extracts X X X X X X X X Extracts X X X X ..... ng duty liability on MRP basis. During the above period, they had collected what was called transferring of right to use charges on glass bottles and crates which were used as containers which were returnable and reusable. These charges were already included in the assessable value of the goods for the purpose of payment of central excise duty. The impugned order, upholding the department's case as made out in the show cause notice, held that as the appellants were a body corporate coming within the meaning of this expression used in section 65(12) of the Finance Act, 1994 and were rendering equipment leasing services to their distributors, they were liable to pay service tax on the amount collected towards the above charges from th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (zm) of the Finance Act, 1994 is to be read ejusdem generis with the preceding words. The expression other financial services appearing under section 65(12)(a)(ix) is a residuary entry and includes those services which are normally rendered by banks or financial institutions. Hence, banking and other financial services provided by a banking company or a financial institution or a non-banking financial company or any other service provider similar to a bank or a financial institution are liable to service tax under section 65(105)(zm) read with section 65(12) of the Finance Act, 1994. Department of Posts is not similar to a bank or a financial institution and hence does not fall within the category of any other similar service provider. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oard's circular dated July 4, 2006 cannot be pressed into service to oppose the levy of service tax on the service in question inasmuch as this circular would not govern the service which was rendered in the year 2004. After considering the submissions, we are impressed with the case advanced by learned counsel. The Board's circular dated July 4, 2006 itself must clinch the issue as rightly pointed out by learned counsel. This circular clarifies the meaning of the expression any other person contained in the text of the definition of the expression banking and other financial services as amended. It is clarified that this expression any other person should be read ejusdem generis with the preceding words. Before its amendme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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