https://www.taxtmi.com/caselaws?id=386355 The Tribunal held that the appellant-assessee was not liable to pay service tax on corporate guarantees provided to banks/financial institutions, as no consideration was received for the guarantees. Additionally, the Tribunal ruled in favor of the respondent, stating that the "Offshore Upfront Fee" paid to foreign bankers was considered interest and not subject to service tax. Consequently, the demands for service tax in both cases were dismissed, with no penalties imposed on either party. en-us Wed, 22 May 2019 00:00:00 +0530 Fri, 20 Feb 2026 17:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386355 The Tribunal held that the appellant-assessee was not liable to pay service tax on corporate guarantees provided to banks/financial institutions, as no consideration was received for the guarantees. Additionally, the Tribunal ruled in favor of the respondent, stating that the "Offshore Upfront Fee" paid to foreign bankers was considered interest and not subject to service tax. Consequently, the demands for service tax in both cases were dismissed, with no penalties imposed on either party. Case-Laws Service Tax Wed, 22 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386355