TMI Blog2014 (9) TMI 819X X X X Extracts X X X X X X X X Extracts X X X X ..... f paying consideration in foreign exchange to the foreign supplier and thereafter, the foreign supplier sending the discount/brokerage in foreign currency to the broker/agent. In that case, service was provided to the service receiver abroad and consideration was in fact indirectly received in foreign currency. In the present case, the appellant provided service to Indian Insurer who has paid the remuneration to the appellant in Indian currency. Prima facie, the facts are not comparable and therefore, the decision is not applicable. In the appellant’s own case as well as in the case of Suprasesh G.I.S. & Brokers P. Ltd. (2008 (11) TMI 82 - CESTAT, CHENNAI), this Tribunal in similar circumstances has taken a view that the appellant does not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er to bear alone. The appellant identifies reinsurer located abroad for the Indian companies and negotiates the terms and contracts between them. For this service the appellant receives commission called reinsurance brokerage. By and large, the appellant provides service to the Indian Insurance Companies. It appeared that the service rendered by the appellant was not in the nature of export of service inasmuch as it was essentially performed in India and there was no physical receipt of payment in convertible foreign exchange and hence, the same cannot be quantified as export. As per the information provided by the appellants, the appellants had received an amount of ₹ 1,84,03,181/- as reinsurance brokerage commission from the oversea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , learned counsel submitted that even if it is so, the decision in the case of National Engg. Ind. Ltd. (supra) takes a contrary view and when there are conflicting decisions, stay has to be granted. He relied upon the decision of Hon ble High Court of Karnataka in the case of Binani Zinc Ltd. vs. Asst. Collector of Central Excise, Cochin [1995 (77) E.L.T. 514 (Kar.)]. 5. After hearing both sides and considering the records, we find that the decision in the case of National Engg. Ind. Ltd. (supra) cannot be applied to the present case. In that case, the services were provided to foreign company for whom orders were received from Railways. The Foreign supplier received the amount from Indian Railways for the goods supplied, the discount / ..... X X X X Extracts X X X X X X X X Extracts X X X X
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