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2019 (12) TMI 240 - HC - Service TaxCENVAT Credit - service tax on that portion of value of services which was not paid by the assessee at the time of taking credit and was retained as performance guarantee - Rule 4(7) of the Cenvat Credit Rules, 2004 - main argument of the Revenue is that withholding of amounts towards performance guarantee is not covered by the circular but the other forms of payment withheld from service provider might be - circular dated 30.04.2010. - HELD THAT:- This Court is of the opinion that the argument of the Revenue that performance guarantee amounts withheld by the asseessee are not per se covered by the circular, is incorrect. A clear reference to amounts withheld towards various counts including security, in the opinion of the court, comprehends the withholding of amounts towards performance guarantee. The question of law is answered against the Revenue - Appeal dismissed.
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