https://www.taxtmi.com/caselaws?id=373948 The Tribunal set aside the demand for tax based on differential exchange rates for 'intellectual property right services' and 'business auxiliary service' under section 66A of the Finance Act, 1994. Penalties imposed were eliminated due to entitlement to CENVAT credit, with no liability deemed for 'intellectual property rights' under the Act. The judgment emphasized the importance of exchange rates at the time of payment and the need to consider specific laws governing such services for taxation. The appeal was allowed to the extent of the differential tax resulting from alternate exchange rates, highlighting the legal complexities involved in taxing 'intellectual property rights' services. en-us Thu, 17 Jan 2019 00:00:00 +0530 Thu, 28 Mar 2019 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373948 The Tribunal set aside the demand for tax based on differential exchange rates for 'intellectual property right services' and 'business auxiliary service' under section 66A of the Finance Act, 1994. Penalties imposed were eliminated due to entitlement to CENVAT credit, with no liability deemed for 'intellectual property rights' under the Act. The judgment emphasized the importance of exchange rates at the time of payment and the need to consider specific laws governing such services for taxation. The appeal was allowed to the extent of the differential tax resulting from alternate exchange rates, highlighting the legal complexities involved in taxing 'intellectual property rights' services. Case-Laws Service Tax Thu, 17 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373948