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2014 (11) TMI 832 - AT - Service TaxWaiver of predeposit of tax - levy of service tax on bill discounting charges in the course of purchase and sales - Banking and Other Financial Services - Held that:- Prima facie, we are unable to accept the contention of the Commissioner (Appeals). As per Section 65 (12) (a) (ix), "Banking & Other Financial Service" would include the bill discounting services provided by a banking company or a financial institution including a non-banking financial company or any other body corporate or commercial concern. Apparently, the bill discounting are related to processing charges collected by the said institutions from the recipient of service. But, in the present case, the bill discounting is during the course of sale of goods between the buyer and seller and prima facie, no service tax is leviable. - Prima facie case in favour of assessee - Stay granted.
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