TMI Blog2007 (6) TMI 534X X X X Extracts X X X X X X X X Extracts X X X X ..... [Order per : P.G. Chacko, Member (J)]. - In the impugned order ld. Commissioner confirmed a demand of service tax of over ₹ 1.4 crores against the appellants under Section 73(1) of the Finance Act, 1994 along with interest on tax under Section 75 of the Act. He also imposed penalties on them under Sections 76 and 78 of the Act. The present application is for waiver of pre-deposit and sta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ut the persons coming within the definition of intermediary or insurance intermediary . Reinsurance brokers also have come to be listed under Section 65(56) as intermediary or insurance intermediary . The Commissioner classified the appellants as reinsurance brokers within the meaning of Regulation 2(m) of the IRDA (Insurance Brokers) Regulations, 2002 and adopted certain other definitions fro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as shown by the Revenue that the transaction involved export of service. But it is the definite case of the appellants, reiterated by the ld. Counsel, that, prior to 1-5-2006, their service was not exigible to service tax. Ld. SDR reiterates the findings of the Commissioner and opposes the application for waiver and stay. 3. We have considered the submissions. Ld. Counsel has relied on the apex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e service, designated as Insurance Auxiliary Service , was exported by them. In the Board s Circular cited by the ld. Counsel, it was clarified that, even after rescission of Notification No. 6/99-ST, export of service, otherwise taxable under the Finance Act, would be exempt from such tax. After a perusal of the Board s Circular and the relevant Notifications viz. 6/99-ST, 2/03-ST, 21/03-ST and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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