2014 (12) TMI 660

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.... Shri S S Gupta, CA For the Respondent : Dr B S Meena, Additional Commissioner (AR) JUDGEMENT Per: Ashok Jindal: The applicants are seeking waiver of pre-deposit of service tax of Rs. 4,88,93,874/- along with interest and various penalties under the Finance Act, 1994, on account of denial of Cenvat Credit on certain input services. 2. The brief facts of the case are that applicant i....

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....t Credit on maintenance charges for residential flat of Managing Director. The Revenue is of the view that all these services are not input service for providing output service by the applicant. Therefore, they are not entitled to take Cenvat Credit on these input services. Accordingly, the show cause notices were issued and same was converted into impugned orders. Aggrieved from the said orders, ....

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....ve participated. He further submits that Cenvat Credit has been denied on service charges paid to the lead bank, on account of documents against which they have availed cenvat credit against prescribed document under Rule 9(f) of the Cenvat Credit Rules, 2004. In this context, it is submitted that as per Rule 4A of the Service Tax Rules, 1994, the concession has been given to the banking and finan....

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....ares & securities for Trading, Custodian charges, Event management services paid by them are in nature of input services having nexus to their business activity. Therefore, they are entitled to avail input service credit. We further find that as per Rule 4A of the Service Tax Rules, the required document that has been mentioned is the debit note issued by lead bank i.e. State Bank of India for Cus....