2010 (12) TMI 321

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.... Shri P.K. Agarwal, JCDR, for the Respondent. [Order per : P.G. Chacko, Member (J)]. - In this application, the appellant seeks waiver of pre-deposit and stay of recovery in respect of service tax of Rs. 53,74,862/- demanded by the Commissioner and equal amount of penalty imposed by him. The Commissioner's order relates to the activity of collection of octroi on behalf of a Municipal Corpora....

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....ation. The demand under challenge is the levy of service tax on this amount. 2. The learned counsel refers to the definition of 'Banking and Other Financial Services' given under Section 65(12) of the Finance Act, 1994 and submits that, during the period of dispute, nothing contained in the definition can be said to have included the activity of octroi collection as a taxable service. In t....

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.... learned JCDR has, at the outset, chosen to bank on the Notification. He submits that the Notification purported to grant exemption from payment of service tax on the above category of service provided by a banking company or a financial institution or any other body corporate or commercial concern where the service involved collection of any duties or taxes on behalf of the Government of India or....

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....which was present in the text of the definition of 'Banking and other Financial Service' under Section 65(12) ibid was omitted w.e.f. 1-6-2007. That clause read "but does not include cash management". The period of dispute in the present case is subsequent to 1-6-2007 and, therefore, the learned JCDR has argued that cash management stands included in the definition of the service. Prima facie, thi....