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2017 (5) TMI 939 - AT - Central ExciseCENVAT credit - Banking & Other Financial Services - scope of input services - advisory and placement charges relating to private placement of equity shares - denial on the ground that the services rendered is not fall under the category of input services and they were not in relation to the manufacturing of the final products - Held that: - when the amounts raised by M/s PL Advisory Service Pvt. Ltd. were undisputedly used by appellant for the manufacturing activity i.e. for the business during the relevant period is itself an indicator that the said services rendered by M/s PL Advisory Service Pvt. Ltd. has intrinsic relation to the manufacture of business activity of the appellant. The decision of the Tribunal in the case of Hinduja Global Solution [2016 (3) TMI 401 - CESTAT BANGALORE] would directly apply in the case in hand wherein the Tribunal has held that activities relating to business which is in the second portion of the definition includes the activity of financing which would mean that if an assessee pays service tax for the various services received by them for raising the finance, CENVAT credit can be availed. Credit allowed - decided in favor of appellant.
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