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2013 (10) TMI 1113 - AT - Service TaxFinance Charges - Application for Early Disposal - There is a total demand of service tax along with interest and penalties for the period on the amount collected by the applicant as finance charges for pre-closure/foreclosure of hire purchase on leasing transaction – Held that:- The Tribunal in the case of Housing & Dev. Corporation Ltd. (HUDCO) Vs CST Ahmedabad [2011 (11) TMI 95 - CESTAT, AHMEDABAD] decided the appeal and held that service tax would be leviable on pre-payment of loan or foreclosure charges - service tax is leviable on foreclosure or pre-payment charges and in Indusind bank Ltd. Vs CST Chennai [2009 (9) TMI 48 - CESTAT, CHENNAI ] directed pre-deposit of 50% of tax - The applicant failed to make out a prima facie case for waiver of predeposit of entire amount of tax along with interest and penalties – Appellant was directed to pre-deposit the amount and upon such submission rest of the duty to be stayed – partial stay granted.
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