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2012 (5) TMI 32 - AT - Service TaxWhether the payment made by the applicant bank to Society for Worldwide Inter-bank Financial Telecommunication (SWIFT) for transfer of funds to members Banks is liable to service tax - Held that:- As per provisions of Section 65(12) the definition of ‘banking and other financial services' which provide the services provided by a banking company or a financial institution including a non-banking financial company or any other body corporate or commercial concern, namely provision and transfer of information and data processing the activity undertaken by the applicant is covered under the ‘banking and other financial services'- no waiver of pre-deposit of the service tax - against assessee.
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