Home Case Index All Cases Service Tax Service Tax + AT Service Tax - 2017 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (10) TMI 347 - AT - Service TaxLevy of service tax - charges / commission received for money changing activities - Held that: - as per Circular of the Board, the benefit cannot be denied to the assessee - The charges collected include Commission on DC, OBC-IBC-Others, Cheque return charges, Commission on Bank guarantees, Commission of Letter of Credit, Upfront fee, Cheque issue charges, Handling charges for gold coin, Commission on DD, TT, MT, Processing fee, Incidental charges, Locker rent, ABB charges, Exchange Profit received from FEDCO, other charges, Folio charges. Out of this, the exchange profit received from FEDCO may fall under charges received for money changing. This fact has to be verified for which the matter requires to be remanded. Penalties u/s 76 and 78 - Held that: - both penalties under Section 76 as well as Section 78 are imposed for equal amount which is highly erroneous and unjustified. The matter is remanded to the adjudicating authority to consider whether any amount / charges would fall under money changing activity and whether appellant is eligible for benefit of Circular No.92/3/2007 dt.12.3.2007 - appeal allowed by way of remand.
|