2017 (11) TMI 417

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....dent ORDER Per: Ramesh Nair The issue in the present case is that whether the service tax is chargeable on the services received from foreign entity in relation to External Commercial Borrowings(ECBs) from abroad. 2. Shri. D.H. Nadkarni, Ld. Counsel for the appellant submits that they do not admit service tax demand on merit, however as of now the issue is decided against them in light of judg....

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....)ELT A155(SC)] He submits that the service tax is exempted on transaction undertaken with M/s. IFC, accordingly penalty is also not sustainable. He further submits that demand is time bar as all the relevant facts were in the knowledge of the authority when first show cause notice was issued while issuing second show cause notice on the similar fact, allegation of suppression of facts is not sust....

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....nsidered the submissions made by both sides and perused the record. 5. I find that as regard the taxability of service, the issue is no longer res-integra as held by this Tribunal in case of Gitanjali Gems Ltd (supra) and Tata Steel Ltd (supra). The appellant argued that since the service tax payable is available as Cenvat credit, entire activity is revenue neutral, accordingly demand alongwith p....