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2018 (3) TMI 1286 - AT - Service TaxCENVAT credit - input services - construction of immovable property - demand of service tax - notional interest on security deposit towards renting of immovable property service - Held that: - the Revenue has wrongly denied the cenvat credit on various input services which have been used for construction of immovable property which is ultimately rented out - reliance placed in the case of City Centre Mall Nashik Pvt. Ltd. Versus Commissioner of Central Excise & Service Tax, Nashik [2017 (11) TMI 301 - CESTAT MUMBAI], where it was held that the appellant is entitled to cenvat credit on input services used for construction of immovable property - credit allowed. Demand of service tax - notional interest - Held that: - the issue is squarely covered by the judgment of the Tribunal in the case of Magarpatta Township Developers & Construction Co. Ltd. [2014 (9) TMI 461 - CESTAT MUMBAI], wherein the Tribunal has held that notional interest cannot be included in the value and will not be taxable under the category of renting of immovable property services - no service tax is chargeable on notional interest. Appeal allowed - decided in favor of appellant.
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