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2012 (11) TMI 1076 - AT - Service TaxBanking & other financial services - Assessee provides service of payment and receiving money on behalf of the government - Penalty u/s 76 - Held that:- Assessee submits that on the identical issue in the case of Canara Bank v. CST [2012 (6) TMI 274 - CESTAT, AHMEDABAD] has held that such activity does not fall under the category of Banking and Financial service and the above activity is exempt from banking and financial services. As the issue has attained finality by the order of the Tribunal in Canara Bank (supra) therefore following the same, we hold that the appellant are not liable to pay service tax confirmed against them by way of impugned order and we set aside the demand of service tax. There is no imposition of penalty on the appellant. - Decided in favour of assessee.
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