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2017 (4) TMI 855 - CESTAT MUMBAI

2017 (4) TMI 855 - CESTAT MUMBAI - TMI - Banking and financial services - Extended period of limitation - amounts paid by appellant to various service providers who had facilitated raising of External Commercial Borrowings (ECB) during March 2007 - taxability - Held that: - the service tax liability arises under Section 66A of the Finance Act, 1994 and is already discharged by the appellant. At the same time, there cannot be any intention to evade the service tax liability as the entire service .....

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AR) for the respondent Per: M V Ravindran: This appeal is directed against Order-in-Original No:48/STC-I/SKS/11-12 dated 21/12/2011 passed by the Commissioner of Service Tax - I, Mumbai. 2. Heard both the sides and perused the records. 3. The issue involved in this case is regarding service tax liability on the appellant under the category of banking and financial services for the amounts paid by them to various service providers who had facilitated raising of External Commercial Borrowings (ECB .....

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mechanism credit of entire amount is available as the said ECBs are utilized by them for the manufacturing activity. Since there is revenue neutral situation, question of intention to evade payment of tax will not arise. Learned Counsel relies upon the judgment of the Tribunal in the case of British Airways v. Commissioner of Central Excise (Adjn.), Delhi 2014 (36) STR 598 (Tri. Del.) and Commissioner of Central Excise, Ahmedabad - II V. Reclamation Welding Ltd 2014 (308) ELT 542 (Tri.Ahmd) and .....

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