https://www.taxtmi.com/caselaws?id=242087 The Tribunal granted the applicant's request for waiver of pre-deposit of service tax, amounting to Rs. 1,74,64,742, interest, and penalties. The demand on reverse charge mechanism was confirmed due to external commercial borrowings, but services from International Finance Corporation were exempt under the International Finance Corporation Act. As the applicant had already paid a substantial amount and relied on a previous stay order, the Tribunal waived the remaining dues' pre-deposit and stayed recovery during the appeal, providing relief to the applicant. en-us Tue, 05 Nov 2013 00:00:00 +0530 Tue, 07 Jan 2014 07:06:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=242087 The Tribunal granted the applicant's request for waiver of pre-deposit of service tax, amounting to Rs. 1,74,64,742, interest, and penalties. The demand on reverse charge mechanism was confirmed due to external commercial borrowings, but services from International Finance Corporation were exempt under the International Finance Corporation Act. As the applicant had already paid a substantial amount and relied on a previous stay order, the Tribunal waived the remaining dues' pre-deposit and stayed recovery during the appeal, providing relief to the applicant. Case-Laws Service Tax Tue, 05 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=242087