https://www.taxtmi.com/caselaws?id=436583 The Tribunal allowed the appeal, setting aside the Commissioner's order confirming the demand of service tax with interest and penalty. It held that re-instatement interest collected on delayed payment of premium is not liable to service tax, as it is not in the nature of administrative/processing fees but interest on overdue premiums. The Tribunal emphasized that the policy does not terminate on non-payment of premium, allowing policyholders to revive policies by paying overdue premiums with interest. Consequently, the interest and penalty levied by the Commissioner were also set aside. en-us Wed, 12 Apr 2023 00:00:00 +0530 Fri, 14 Apr 2023 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436583 The Tribunal allowed the appeal, setting aside the Commissioner's order confirming the demand of service tax with interest and penalty. It held that re-instatement interest collected on delayed payment of premium is not liable to service tax, as it is not in the nature of administrative/processing fees but interest on overdue premiums. The Tribunal emphasized that the policy does not terminate on non-payment of premium, allowing policyholders to revive policies by paying overdue premiums with interest. Consequently, the interest and penalty levied by the Commissioner were also set aside. Case-Laws Service Tax Wed, 12 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436583