https://www.taxtmi.com/caselaws?id=252284 The Appellate Tribunal CESTAT CHENNAI confirmed a tax demand of &8377; 1,47,35,188/- for safekeeping gold and imposed a service tax of &8377; 1,28,66,043/- on income from lending gold. Rule 6(2)(iv) of the Service Tax (Determination of Value) Rules 2006 was applied to loans given in the form of gold. The Tribunal directed a predeposit of &8377; 12,00,000/-, with further dues waived upon compliance. Recovery of outstanding amounts was stayed during the appeal, and the case was linked with related appeals for consolidated consideration. en-us Thu, 10 Jul 2014 00:00:00 +0530 Thu, 16 Oct 2014 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252284 The Appellate Tribunal CESTAT CHENNAI confirmed a tax demand of &8377; 1,47,35,188/- for safekeeping gold and imposed a service tax of &8377; 1,28,66,043/- on income from lending gold. Rule 6(2)(iv) of the Service Tax (Determination of Value) Rules 2006 was applied to loans given in the form of gold. The Tribunal directed a predeposit of &8377; 12,00,000/-, with further dues waived upon compliance. Recovery of outstanding amounts was stayed during the appeal, and the case was linked with related appeals for consolidated consideration. Case-Laws Service Tax Thu, 10 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252284