https://www.taxtmi.com/caselaws?id=31725 The Appellate Tribunal CESTAT, CHENNAI ruled in favor of the appellant in a dispute over a service tax demand of over Rs. 2.49 crores under the "Banking and Other Financial Services" category for the period August 2002 to March 2006. The Tribunal found that the appellant, acting as the Acquiring Bank for VISA card transactions, was not liable to pay service tax on the amounts paid to VISA. A waiver of pre-deposit and a stay of recovery were granted for the service tax, interest, and penalties pending further proceedings. en-us Tue, 23 Sep 2008 00:00:00 +0530 Thu, 20 Mar 2014 14:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31725 The Appellate Tribunal CESTAT, CHENNAI ruled in favor of the appellant in a dispute over a service tax demand of over Rs. 2.49 crores under the "Banking and Other Financial Services" category for the period August 2002 to March 2006. The Tribunal found that the appellant, acting as the Acquiring Bank for VISA card transactions, was not liable to pay service tax on the amounts paid to VISA. A waiver of pre-deposit and a stay of recovery were granted for the service tax, interest, and penalties pending further proceedings. Case-Laws Service Tax Tue, 23 Sep 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31725