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2024 (1) TMI 723 - AT - Service TaxLiability to pay 5%/6% of the value of exempted service i.e. Trading Activity - respondent have reversed the proportionate credit attributed to such exempted service along with interest - HELD THAT:- There isno dispute regarding proportionate reversal of cenvat credit along with interest attributed to the value of exempted service i.e. Trading Activity. Therefore, the demand under other option i.e. 5%/6% of the value of exempted service (trading activity) will not sustain as consistently held by various high court and this Tribunal and also by the judgments in SANSTAR BIO POLYMERS LIMITED VERSUS C.C.E. & S.T. -RAJKOT [2021 (11) TMI 15 - CESTAT AHMEDABAD] and AMI LIFESCIENCES PVT LTD VERSUS C.C.E. & S.T. -VADODARA-I [2022 (4) TMI 423 - CESTAT AHMEDABAD] by the learned counsel. Accordingly, the issue is no longer res-integra and the same stands settled in the favour of the assessee. The impugned order is upheld and Revenue’s appeal is dismissed.
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