https://www.taxtmi.com/caselaws?id=366576 The Tribunal held that income from Cash Credit, Over Draft, and Bill Discounting services is exempt from service tax under Notification No. 29/2004-ST, falling under exempted services per Rule 2(e) of CENVAT Credit Rules, 2004. The Appellant was required to reverse CENVAT credit availed for CC/OD services. The demand was remanded for re-determination considering the issue of limitation. Interest under section 75 is recoverable pending resolution of the limitation issue. The penalty imposed on the Appellants was set aside for reconsideration. The appeal was allowed for re-determination based on limitation grounds. en-us Mon, 16 Jul 2018 00:00:00 +0530 Fri, 07 Sep 2018 07:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366576 The Tribunal held that income from Cash Credit, Over Draft, and Bill Discounting services is exempt from service tax under Notification No. 29/2004-ST, falling under exempted services per Rule 2(e) of CENVAT Credit Rules, 2004. The Appellant was required to reverse CENVAT credit availed for CC/OD services. The demand was remanded for re-determination considering the issue of limitation. Interest under section 75 is recoverable pending resolution of the limitation issue. The penalty imposed on the Appellants was set aside for reconsideration. The appeal was allowed for re-determination based on limitation grounds. Case-Laws Service Tax Mon, 16 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366576