https://www.taxtmi.com/caselaws?id=375240 The Tribunal set aside the demand for service tax on Vostro transactions, deeming them as an export of service. However, the demand for service tax on SWIFT transactions was upheld under Sub-Clause (vii) of Banking or Other Financial Services. Penalties were waived due to the interpretational nature of the issue. The decision was made in consideration of Section 80 of the Finance Act, 1994, with modifications pronounced in open court on 31.01.2019. en-us Thu, 31 Jan 2019 00:00:00 +0530 Fri, 15 Feb 2019 19:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375240 The Tribunal set aside the demand for service tax on Vostro transactions, deeming them as an export of service. However, the demand for service tax on SWIFT transactions was upheld under Sub-Clause (vii) of Banking or Other Financial Services. Penalties were waived due to the interpretational nature of the issue. The decision was made in consideration of Section 80 of the Finance Act, 1994, with modifications pronounced in open court on 31.01.2019. Case-Laws Service Tax Thu, 31 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375240