https://www.taxtmi.com/caselaws?id=375622 The Tribunal held that the commission received/paid for providing/receiving corporate guarantees by the manufacturing company is not exigible to service tax under the category of "Banking and Other Financial Services" (BOFS) as per the Finance Act, 1994. The Tribunal found that corporate guarantees do not fall under the definition of BOFS, distinguishing them from bank guarantees. The appeal was allowed on merits and limitation, setting aside the demands imposed by the department with consequential relief. en-us Tue, 19 Feb 2019 00:00:00 +0530 Wed, 19 Aug 2020 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375622 The Tribunal held that the commission received/paid for providing/receiving corporate guarantees by the manufacturing company is not exigible to service tax under the category of "Banking and Other Financial Services" (BOFS) as per the Finance Act, 1994. The Tribunal found that corporate guarantees do not fall under the definition of BOFS, distinguishing them from bank guarantees. The appeal was allowed on merits and limitation, setting aside the demands imposed by the department with consequential relief. Case-Laws Service Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375622