2011 (2) TMI 320

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....hajan, JCDR Per: P G Chacko: The appellant, HDFC Ltd., is a banking company. A demand of service tax and education cess together amounting to Rs.2.04 crores (approx) has been confirmed against them for the period of April 2002 to April 2007 in adjudication of a show-cause notice dated 18.10.2007 which invoked the extended period of limitation. An amount of Rs.1.30 Crores (approx.) was paid b....

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....-holders in respect of the service through credit cards availed by them abroad. When the card holders used the cards for shopping abroad, they had to pay in foreign currency and HDFC recovered from them, in addition to the exact value of the goods in foreign currency, 3.5% towards what they called "margin of profit". The taxable value for the demand of Rs.74 lakhs (approx.) is the aggregate of thi....