https://www.taxtmi.com/caselaws?id=249118 The Appellate Tribunal CESTAT MUMBAI ruled in favor of the lease finance company in a case concerning service tax liability pre-2004. The Tribunal held that for contracts entered into before specific dates, the service tax rate should be based on the prevailing rate at the time of contract entry, not on the rate at which lease rentals are paid. Citing precedent, the Tribunal set aside the demand for a higher rate of service tax, stating that the taxable event occurs at the time of contract entry. The appeal was allowed, following principles established in a previous case, Art Leasing Ltd. en-us Fri, 28 Feb 2014 00:00:00 +0530 Fri, 04 Jul 2014 18:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249118 The Appellate Tribunal CESTAT MUMBAI ruled in favor of the lease finance company in a case concerning service tax liability pre-2004. The Tribunal held that for contracts entered into before specific dates, the service tax rate should be based on the prevailing rate at the time of contract entry, not on the rate at which lease rentals are paid. Citing precedent, the Tribunal set aside the demand for a higher rate of service tax, stating that the taxable event occurs at the time of contract entry. The appeal was allowed, following principles established in a previous case, Art Leasing Ltd. Case-Laws Service Tax Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249118