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2016 (3) TMI 137 - CESTAT NEW DELHI

2016 (3) TMI 137 - CESTAT NEW DELHI - 2016 (41) S.T.R. 68 (Tri. - Del.) - Waiver of pre-deposit - Management, Maintenance and Repair Services - Whether notional interest to be taken as value of service - Appellant contended that there is no provision under Service Tax law to adopt notional interest as value of taxable service and as per Notification No.8/07-ST dated 1.3.2007 taxable services specified in clause (zzze) of section 65(105) of the said Finance Act provided or to be provided by a res .....

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flat owner was collected for this purpose although corpus fund was to be transferred to the welfare association as contended by the appellant but the corpus amount was not transferred by the appellant during the period and it earned interest thereon. Therefore, the notional interest reasonably represents the value of the said taxable service. - Stay granted partly. - ST/Stay/50546/2014-Cus in Appeal No.ST/50438/2014-Cus[DB] - Stay Order No.52615/2015 - Dated:- 7-7-2015 - Mr. R.K. Singh, Member ( .....

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lue of service has been taken as notional interest of ₹ 3 lakh per flat owner taken as corpus fund . 2. The appellant has contended that there is no provision under Service Tax law to adopt notional interest as value of taxable service and as per Notification No.8/07-ST dated 1.3.2007 taxable services specified in clause (zzze) of section 65(105) of the said Finance Act provided or to be provided by a resident welfare association subject to the condition that the total consideration receiv .....

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