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2014 (1) TMI 720 - CESTAT CHENNAIWaiver of Pre-deposit u/s 73(2) of Finance Act, 1994 – Held that:- The applicant was paying the service tax for "Storage and Warehousing Service" provided to SPIC for imported Naphtha, for which, M/s. IOC Ltd., collected handling charges - the physical handling of the SPIC procured Naphtha viz. unloading, storage and pumping through to SPIC premises was made by IOC, both during the lease period and after the lease period and all the procedures are same and SPIC, who imported Naphtha directly which was also stored in the main tank - service tax was paid on storage and warehousing of imported Naphtha – thus, tax is payable on storage and warehousing from refineries to storage tanks and connecting pipeline to storage tank of SPIC comply - IOC Ltd. has to store the Naphtha safely as per safety regulation - the applicant failed to make out a prima facie case for waiver of pre-deposit of the entire amount - the applicant is directed to deposit a sum of Rupees Seventy Five Lakhs as pre-deposit – upon such submission rest of the duty to be stayed till the disposal – partial stay granted.
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