https://www.taxtmi.com/caselaws?id=205335 The Appellate Tribunal CESTAT, Mumbai held that the appellant-bank was liable to pay service tax for the period from April 2002 to April 2006 under "Banking and other Financial Services" for charges collected from credit card-holders using cards abroad. The profit margin collected by the bank from credit card holders abroad was considered as part of the value of "credit card service" under the Finance Act, 1994. The appellant's argument that the profit margin should not be included was rejected, and they were directed to pre-deposit the remaining amount of Rs.74 lakhs within four weeks to avoid penalty enforcement. en-us Mon, 07 Feb 2011 00:00:00 +0530 Wed, 31 Aug 2011 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205335 The Appellate Tribunal CESTAT, Mumbai held that the appellant-bank was liable to pay service tax for the period from April 2002 to April 2006 under "Banking and other Financial Services" for charges collected from credit card-holders using cards abroad. The profit margin collected by the bank from credit card holders abroad was considered as part of the value of "credit card service" under the Finance Act, 1994. The appellant's argument that the profit margin should not be included was rejected, and they were directed to pre-deposit the remaining amount of Rs.74 lakhs within four weeks to avoid penalty enforcement. Case-Laws Service Tax Mon, 07 Feb 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205335