Home Case Index All Cases Service Tax Service Tax + AT Service Tax - 2017 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (3) TMI 559 - AT - Service TaxClassification of services - services to ICICI Bank in relation to disbursal of loans to various customers - whether classified under Business Auxiliary Service or not? - Held that: - the appellants were acting as Direct Selling Agents for the banks and were engaged in promoting loans for the vehicles to be disbursed to various customers. Their activities included promotion of loan disbursal, facilitation of the buyer of vehicles in documentation and getting the loan amount from the bank. For this, the banks are paying certain commissions - the said activities are covered under the tax entry of “Business Auxiliary Service” in terms of Section 65(105)(zzb) of Finance Act, 1994 inasmuch as they are promoting and marketing the services provided by the client banks - appellants did not elaborate the background of their bona fide belief - demand upheld - appeal dismissed - decided against appellant.
|