https://www.taxtmi.com/caselaws?id=377370 The Tribunal held that the appellants were not liable to pay service tax on the charges/amount collected for bill discounting facility. The Tribunal found that the services provided by the appellants fell under the exemption for money lending services as per Notification No.29/2004-ST. Citing a precedent involving UCO Bank, Kolkata, the Tribunal determined that the value equivalent to interest or discount in connection with bill discounting facility was exempted from service tax under Section 66 of the Finance Act, 1994. Consequently, the demand for service tax and penalties were set aside, and the appeal was allowed. en-us Wed, 23 Jan 2019 00:00:00 +0530 Thu, 28 Mar 2019 07:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377370 The Tribunal held that the appellants were not liable to pay service tax on the charges/amount collected for bill discounting facility. The Tribunal found that the services provided by the appellants fell under the exemption for money lending services as per Notification No.29/2004-ST. Citing a precedent involving UCO Bank, Kolkata, the Tribunal determined that the value equivalent to interest or discount in connection with bill discounting facility was exempted from service tax under Section 66 of the Finance Act, 1994. Consequently, the demand for service tax and penalties were set aside, and the appeal was allowed. Case-Laws Service Tax Wed, 23 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377370