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of <h1>High Court modifies order requiring bank guarantee for appeal</h1> The High Court of Bombay modified the order, mandating the petitioner to provide a bank guarantee of Rs.25 lakhs for the appeal to proceed before the ... Tribunal while rejecting the claim of dispensing with the entire amount of pre-deposit, has found that for the purpose of levying service tax, cost of raw materials, packing materials, overheads and profit of the company, should not have been taken into consideration – petitioner may not be liable to pay service tax - since petitioner has agreed to give bank guarantee of the amount of Rs. 25 lacs, tribunal is directed to dispose the appeal on submission of bank guarantee of 25 lacs The High Court of Bombay modified the order to require the petitioner to submit a bank guarantee of Rs.25 lakhs for the appeal to be heard on merit by the Tribunal within six months. The Tribunal will make an appropriate order regarding the bank guarantee. The petitioner may not be liable to pay service tax based on the judgment of the Supreme Court in the case of 'Bharat Sanchar Nigam Ltd. Vs. Union of India, 2006 (2) S.T.R. 161(S.C.)'.
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