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TMI Blog2024 (10) TMI 1549X X X X Extracts X X X X X X X X Extracts X X X X ..... A.S.G. Mr. Gurmeet Singh Makker, AOR, Mr. V C Bharathi, Adv., Mr. Sreekumar C. N, Adv., Mr. Zoheb Hussain, Adv., Mr. Rupesh Kumar, Adv., Mr. Anmol Chandan, Adv., Mr. Mukesh Kumar Maroria, AOR For the Respondent(s) Mr. Arvind P. Datar, Sr. Adv., Mr. Tarun Gulati, Sr. Adv.(N/P), Mr. Kumar Visalaksh, Adv., Mr. Nishant Shah, Adv., Ms. Sweta Rajan, Adv., Mr. Udit Jain, Adv., Mr. Mahfooz Ahsan Nazki, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t. Clause (iii) thereof applies to service by any person, which includes service by the issuing bank and the acquiring bank. The use of the word 'and' in conjuncture is indicative of the legislative intent. MDR is charged/levied by the acquiring bank at the first point in time and subsumes both the acquiring bank fee and the interchange fee of the issuing bank, as well as the platform fee. It is t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as a service, has been taxed and also paid. 6. We wonder whether the Revenue would have accepted the bifurcation as argued by them in case the acquiring bank and the issuing bank had taken the stand which is now taken by them. While interpreting a tax provision, one must keep in mind that the legislature ennobles the ease of collection of tax and payment of tax. These principles, especially when ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gly, the show cause notice proceeds on the basis that, regardless of the service tax paid by the acquiring bank on the full MDR, the issuing bank would be liable to pay service tax on the proportion of its share in the MDR, which is the interchange fee. 9. We find that the entire amount of the service tax payable on the MDR has been paid to the Government and there is no loss of revenue. 10. Rec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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