TMI Blog2014 (12) TMI 660X X X X Extracts X X X X X X X X Extracts X X X X ..... nput services having nexus to their business activity. Therefore, they are entitled to avail input service credit. We further find that as per Rule 4A of the Service Tax Rules, the required document that has been mentioned is the debit note issued by lead bank i.e. State Bank of India for Custodian charges and it contains all details. Therefore applicants are entitled to take Cenvat Credit on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ong with interest and various penalties under the Finance Act, 1994, on account of denial of Cenvat Credit on certain input services. 2. The brief facts of the case are that applicant is a banking company engaged in providing banking and financial services to their clients. To provide their services the applicants are required to maintain CRR and SLR as per guidelines prescribed by RBI. For thi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re not entitled to take Cenvat Credit on these input services. Accordingly, the show cause notices were issued and same was converted into impugned orders. Aggrieved from the said orders, the applicant is in appeals before us and seeking waiver of pre-deposit of the impugned demands. 3. Shri S.S. Gupta Ld. C.A. for the applicant submits that the brokerage paid on purchase sale and investment an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nder Rule 9(f) of the Cenvat Credit Rules, 2004. In this context, it is submitted that as per Rule 4A of the Service Tax Rules, 1994, the concession has been given to the banking and financial institution and as all the details required as per Rule 4A ibid are present the applicant is entitled to take cenvat credit. For maintenance charges for residential flat of Managing Director, the Ld. Consult ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e credit. We further find that as per Rule 4A of the Service Tax Rules, the required document that has been mentioned is the debit note issued by lead bank i.e. State Bank of India for Custodian charges and it contains all details. Therefore applicants are entitled to take Cenvat Credit on the said document. As the applicant had already reversed a sum of ₹ 44,620/- against the maintenance ch ..... X X X X Extracts X X X X X X X X Extracts X X X X
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