https://www.taxtmi.com/caselaws?id=208904 The Appellate Tribunal upheld the Commissioner (Appeals) decision, ruling in favor of the appellants in a dispute over the liability of a 100% Export Oriented Unit for Service Tax on banking and financial services received from a foreign country. The Tribunal held that the reverse charge tax shift mechanism under Section 66A of the Finance Act, 1994, applied only to services received after its enactment date. As the services in question were received and paid for before this date, the demand for Service Tax, interest, and penalties was deemed not applicable, providing relief to the appellants. en-us Tue, 05 Apr 2011 00:00:00 +0530 Thu, 02 Feb 2012 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208904 The Appellate Tribunal upheld the Commissioner (Appeals) decision, ruling in favor of the appellants in a dispute over the liability of a 100% Export Oriented Unit for Service Tax on banking and financial services received from a foreign country. The Tribunal held that the reverse charge tax shift mechanism under Section 66A of the Finance Act, 1994, applied only to services received after its enactment date. As the services in question were received and paid for before this date, the demand for Service Tax, interest, and penalties was deemed not applicable, providing relief to the appellants. Case-Laws Service Tax Tue, 05 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208904