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M/s Electronica Finance Ltd. Versus Commissioner of Central Excise, Pune -III

2016 (4) TMI 843 - CESTAT MUMBAI

Demand - Differential Service tax liability - Whether the Service tax liability needs to be discharged by the appellant as per the prevailing Service tax rate during the entire period of hire purchase of contract or else - Appellant has discharged the Service tax liability at the applicable rate when they entered into contract with their client on hire purchase agreement - Held that:- by following the decision of this bench in appellant's own case on identical issue reported in [2014 (7) TMI 155 .....

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ommissioner of Central Excise (Appeals), Pune III. 2. Heard both sides and perused the records. 3. The issue involved in this case is regarding the demand of differential Service Tax liability on the appellant during the period October, 2005 to July, 2008. On finding that appellant is required to discharge Service Tax liability on the interest on hire purchase contract entered by them based upon the Service Tax rate as prevalent during the entire period of hire purchase agreement, while it is th .....

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mitted that the judgment is reported at - 2014-TIOL-794-CESTAT-MUM and produced a copy of the said order of the Tribunal. 4. On consideration of the submissions made by both sides and perusal of the records, we find that the issue is whether the Service Tax liability needs to be discharged by the appellant as per the prevailing Service Tax rate during the entire period of hire purchase of contract. It is undisputed that the appellant is in lease finance business and has discharged the Service Ta .....

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the ground that lease agreement entered by the appellant prior to 2004 and appellant had not discharged the correct service tax liability. The contention of the revenue is that appellant had paid service tax @ 5% and 8% while appellant were required to pay service tax @8% and 10.2% prevailing at the time of providing the service. 2. The appellant relied upon the decision of Tribunal in the case of Art Leasing Ltd. vs. CCE 2007 (8) STR 162 = 2007-TIOL-1493-CESTAT-BANG. The contention is that in c .....

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