https://www.taxtmi.com/highlights?id=79912 The tribunal held that the insurance scheme and surcharge charged by the appellant did not amount to premium as there was no insurance policy issued mentioning conditions and circumstances for indemnifying passengers. To issue an insurance policy, the appellant must be licensed by the Insurance Regulatory and Development Authority (IRDA). The surcharge collected prior to 1.7.2012 was not in the nature of premium, and the activity was not covered under 'general insurance' as per the Finance Act, 1994. The transportation of passengers as stage carriage was exempted from service tax. The surcharge was inseparable from the ticket cost, and the main service of stage carriage was not taxable. Consequently, no service tax, penalty, or interest was payable. The impugned order was set aside, and the appeal was allowed. en-us Wed, 31 Jul 2024 08:35:40 +0530 Wed, 31 Jul 2024 08:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=79912 The tribunal held that the insurance scheme and surcharge charged by the appellant did not amount to premium as there was no insurance policy issued mentioning conditions and circumstances for indemnifying passengers. To issue an insurance policy, the appellant must be licensed by the Insurance Regulatory and Development Authority (IRDA). The surcharge collected prior to 1.7.2012 was not in the nature of premium, and the activity was not covered under 'general insurance' as per the Finance Act, 1994. The transportation of passengers as stage carriage was exempted from service tax. The surcharge was inseparable from the ticket cost, and the main service of stage carriage was not taxable. Consequently, no service tax, penalty, or interest was payable. The impugned order was set aside, and the appeal was allowed. Highlights Service Tax Wed, 31 Jul 2024 08:35:40 +0530 https://www.taxtmi.com/highlights?id=79912