https://www.taxtmi.com/caselaws?id=761301 CESTAT New Delhi held that foreign bank charges and finance costs paid in foreign currency are not liable to service tax. The appellant company did not receive any service from foreign banks as no service provider-recipient relationship existed between them. The foreign bank provided services to the buyer (its client) outside India's taxable territory, making such services non-taxable under Section 66B. The tribunal relied on precedents including Greenply Industries Ltd. and Circular No. 180/06/2014-S.T. Additionally, the demand was time-barred as the extended limitation period was wrongly invoked without proving suppression of facts, since payments were disclosed in financial statements. en-us Thu, 22 Aug 2024 00:00:00 +0530 Thu, 07 Nov 2024 10:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761301 CESTAT New Delhi held that foreign bank charges and finance costs paid in foreign currency are not liable to service tax. The appellant company did not receive any service from foreign banks as no service provider-recipient relationship existed between them. The foreign bank provided services to the buyer (its client) outside India's taxable territory, making such services non-taxable under Section 66B. The tribunal relied on precedents including Greenply Industries Ltd. and Circular No. 180/06/2014-S.T. Additionally, the demand was time-barred as the extended limitation period was wrongly invoked without proving suppression of facts, since payments were disclosed in financial statements. Case-Laws Service Tax Thu, 22 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761301