https://www.taxtmi.com/caselaws?id=771724 CESTAT Allahabad set aside service tax demand on booking cancellation charges and commission from financial institutions. The tribunal held cancellation charges constitute liquidated damages for contract breach, not consideration for services, citing CBIC Circular No.178/10/2022-GST and precedents from CESTAT Ahmedabad and Delhi. Commission payments qualified as revenue neutral transactions where credit was available to the assessee. Consequently, interest and penalty under Section 78 of Finance Act 1994 were also set aside as the primary demand was unsustainable. en-us Wed, 21 May 2025 00:00:00 +0530 Fri, 30 May 2025 08:55:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771724 CESTAT Allahabad set aside service tax demand on booking cancellation charges and commission from financial institutions. The tribunal held cancellation charges constitute liquidated damages for contract breach, not consideration for services, citing CBIC Circular No.178/10/2022-GST and precedents from CESTAT Ahmedabad and Delhi. Commission payments qualified as revenue neutral transactions where credit was available to the assessee. Consequently, interest and penalty under Section 78 of Finance Act 1994 were also set aside as the primary demand was unsustainable. Case-Laws Service Tax Wed, 21 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771724