https://www.taxtmi.com/caselaws?id=334043 The Revenue's appeal against dropping service tax demands on commission from credit card transactions was dismissed. The Commissioner held that the commissions did not constitute taxable service value, supported by the Finance Act, 2006 introduction of a comprehensive definition for credit card services. The Banks' argument that transactions prior to June 1, 2005, were not subject to service tax was accepted. The commissions retained by the Banks were not considered consideration for credit card services, leading to the upholding of the impugned orders and the dismissal of Revenue's appeals. en-us Fri, 21 Oct 2016 00:00:00 +0530 Wed, 02 Nov 2016 17:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334043 The Revenue's appeal against dropping service tax demands on commission from credit card transactions was dismissed. The Commissioner held that the commissions did not constitute taxable service value, supported by the Finance Act, 2006 introduction of a comprehensive definition for credit card services. The Banks' argument that transactions prior to June 1, 2005, were not subject to service tax was accepted. The commissions retained by the Banks were not considered consideration for credit card services, leading to the upholding of the impugned orders and the dismissal of Revenue's appeals. Case-Laws Service Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334043