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2014 (12) TMI 660 - AT - Service TaxWaiver of pre-deposit of service tax - denial of Cenvat Credit - Input services - Held that:- Services namely Brokerage for sale/purchase of shares & securities for Trading, Custodian charges, Event management services paid by them are in nature of input services having nexus to their business activity. Therefore, they are entitled to avail input service credit. We further find that as per Rule 4A of the Service Tax Rules, the required document that has been mentioned is the debit note issued by lead bank i.e. State Bank of India for Custodian charges and it contains all details. Therefore applicants are entitled to take Cenvat Credit on the said document. As the applicant had already reversed a sum of ₹ 44,620/- against the maintenance charges for residential flat of the Managing Director, therefore, the applicant has made out a case for complete waiver of pre-deposit. Accordingly, we waive the requirement of pre-deposit of service tax, interest and penalties and stay recovery thereof during the pendency of the appeal - Stay granted.
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