https://www.taxtmi.com/caselaws?id=761361 Service tax under the negative list regime depended on the existence of a service provided for consideration under section 65B(44) of the Finance Act, 1994. Where the service fee for marketing and allied support services was later waived pursuant to an AGM decision and written order, and the invoice value was renegotiated to nil, the consideration was retrospectively extinguished. On those facts, the waived portion ceased to retain the character of taxable service, and the tax element reflected in the credit notes became refundable to the recipients. The refund claim was therefore allowed in respect of the tax paid on the waived consideration. en-us Wed, 06 Nov 2024 00:00:00 +0530 Sat, 09 Nov 2024 08:46:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761361 Service tax under the negative list regime depended on the existence of a service provided for consideration under section 65B(44) of the Finance Act, 1994. Where the service fee for marketing and allied support services was later waived pursuant to an AGM decision and written order, and the invoice value was renegotiated to nil, the consideration was retrospectively extinguished. On those facts, the waived portion ceased to retain the character of taxable service, and the tax element reflected in the credit notes became refundable to the recipients. The refund claim was therefore allowed in respect of the tax paid on the waived consideration. Case-Laws Service Tax Wed, 06 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761361