TaxTMI 
TaxTMI 
2013 (4) TMI 240
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....dent. [Order per : P.G. Chacko, Member (J)]. - This application filed by the appellant seeks waiver of pre-deposit and stay of recovery in respect of Service tax and Education Cesses totaling to Rs. 1,14,24,247/- (Rupees One crore fourteen lakhs twenty-four thousand two hundred and forty-seven only) demanded for the period from April, 2005 to March, 2010, interest thereon and penalties. The imp....
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....to be included in the taxable value of the 'credit card service'. He submits that Section 67 of the Finance Act, 1994 initially did not expressly provide for exclusion of interest from taxable value of taxable services for the purpose of payment of service tax. This was the legal position from 16-7-2001 to 10-9-2004. An amendment of Section 67 added "interest on loans" to the excluded category und....
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.... has opposed the plea that the interest in question is the same as "interest on loans". The learned Commissioner submits that the interest paid by the bank's customers to the bank on account of the delay on their part in clearing the debt cannot be equated to "interest on loans" and therefore, the legal provisions cited by the counsel may not be applicable. 2. After giving careful considerat....