https://www.taxtmi.com/caselaws?id=347339 The Tribunal ruled in favor of the appellants, manufacturers and exporters of knitted readymade garments, holding that charges deducted by the foreign bank were not subject to service tax under reverse charge mechanism. It was determined that the charges were not payment for services as there was no formal agreement between the foreign bank and the appellants. The extended period for invoking the demand was deemed not applicable as there was no intentional evasion or suppression of facts. Consequently, the appeals were allowed with consequential relief, and the impugned orders were set aside. en-us Tue, 29 Aug 2017 00:00:00 +0530 Sat, 02 Sep 2017 11:18:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347339 The Tribunal ruled in favor of the appellants, manufacturers and exporters of knitted readymade garments, holding that charges deducted by the foreign bank were not subject to service tax under reverse charge mechanism. It was determined that the charges were not payment for services as there was no formal agreement between the foreign bank and the appellants. The extended period for invoking the demand was deemed not applicable as there was no intentional evasion or suppression of facts. Consequently, the appeals were allowed with consequential relief, and the impugned orders were set aside. Case-Laws Service Tax Tue, 29 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347339