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Service Tax Demand on Advance Receipts Challenged; Mutual Guarantees Not Considered Advance for Tax Purposes.

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....Demand of service tax on advance receipt - it provides for Advance cum security and in turn the assessee is liable for equal amount of Performance security bank Guarantee. Thus the amount is guarantee from both the sides. Such amount cannot be considered as advance receipt since it is normal feature of contracts. - AT....

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Service Tax Demand on Advance Receipts Challenged; Mutual Guarantees Not Considered Advance for Tax Purposes.