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2013 (11) TMI 49 - AT - Service TaxExemption from commission income - Benefit of Notification NO. 13/2003-S.T. - Classification of goods - Distribution of mutual funds - Held that:- Benefit of Notification NO. 13/2003-S.T. is available to mutual funds since they are goods. The hon'ble High Court of Andhra Pradesh in the case of Karvy Securities Ltd. [2004 (9) TMI 604 - ANDHRA PRADESH HIGH COURT], has set aside the circular dated 05/11/2003 issued by the CBEC and there is no stay obtained by the Revenue against the said order of the hon'ble High Court of Andhra Pradesh. In view of the above, the decision of the hon'ble High Court of Andhra Pradesh is the law prevailing today - Decided against Revenue.
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