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2017 (12) TMI 554 - AT - Service TaxServices with reference to public offer of Foreign Currency Convertible Bonds (FCCB) and Global Depository Receipts (GDR)- Revenue held a view that appellants are liable to pay service tax for availing such services under the category of banking and offered financial services (BOFS) on reverse charge basis - Business Auxiliary Services - Held that: - There is nothing on record to show that the fund mobilization has exclusively been assigned to the appellants manufacturing facility. Further, the appellants categorically asserted that the repayment of loan consequent to FCCB/GDR till date is reflected in the balance-sheets of M/s Aksh Optifibre Limited. It is apparent that the liability continues to rest on M/s Aksh Optifibre Limited. In such factual contexts, we note the appellants cannot be fastened with any service tax liability for the reason that they have neither engaged the service provider nor the service tax liability arising on such arrangement can be held as inherited or transferred liability of the appellant - demand under Banking and other financial services withheld. Advertising services - internet telephone services - scope of SCN - Held that: - the original authority recorded that the service tax liability under advertising services and internet telecommunication services are confirmed even though it was not proposed under these categories of services in the show cause notice - Demand set aside. Appeal allowed - decided in favor of appellant.
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