https://www.taxtmi.com/caselaws?id=239426 The Tribunal granted the appellant's application for a waiver of pre-deposit of service tax, interest, and penalties under the Finance Act, 1994. The appellant successfully argued that the service charges paid to foreign banks for raising loans in foreign currency were for services provided and received abroad, as the bank accounts, bonds, and subscribers were all foreign entities. The Tribunal found that the funds raised abroad were deployed outside India, and the service charges were debited by foreign clients, indicating that the service provider and recipient were abroad. As a result, the Tribunal stayed the recovery of the disputed amounts pending the appeal's disposal. en-us Tue, 25 Jun 2013 00:00:00 +0530 Tue, 01 Sep 2015 15:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239426 The Tribunal granted the appellant's application for a waiver of pre-deposit of service tax, interest, and penalties under the Finance Act, 1994. The appellant successfully argued that the service charges paid to foreign banks for raising loans in foreign currency were for services provided and received abroad, as the bank accounts, bonds, and subscribers were all foreign entities. The Tribunal found that the funds raised abroad were deployed outside India, and the service charges were debited by foreign clients, indicating that the service provider and recipient were abroad. As a result, the Tribunal stayed the recovery of the disputed amounts pending the appeal's disposal. Case-Laws Service Tax Tue, 25 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239426