TaxTMI 
TaxTMI 
2018 (10) TMI 214
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....r. D.M. Misra This is an appeal filed against Order-in-Original No. 05/ANS-05/AXIS/S.TAX-I/Th-I/2013 dated 20.9.2013 passed by the Commissioner of Central Excise & Service Tax, Thane-I. 2. Briefly stated facts of the case are that the appellants are engaged in providing 'Banking and other Financial Services' during the relevant period. The appellants were having customers all over the wo....
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.... to them for recovery of the Service Tax with interest and proposal for penalty. On adjudication, total demand of Rs. 51,93,070/- along with interest was confirmed; penalty of equal amount imposed under Section 78 and Rs. 5000/- imposed under Section 77 of the Finance Act, 1994. Hence, the present appeal. 3. Learned Advocate Shri Sachin Chitnis for the appellants, at the outset, submits that the ....
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.... of Club or Association Services and since SWIFT is not providing any services to the appellant company, as the appellants being a part of SWIFT and one cannot provide service to one self, accordingly, no Service Tax was paid. It is his contention that levy of Service Tax under Reverse Charge Mechanism has been inserted into the Finance Act, 1994 through Section 66A w.e.f. 18.4.2006 and the issue ....
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....tly argued imposition of penalty taking recourse of Section 80 of the Finance Act, 1994. Also, it is not in dispute that the appellants have paid the entire amount of Service Tax for the services received from the overseas provider of services i.e. SWIFT during the relevant period and liable to discharge Service Tax under reverse charge mechanism. The applicability of Service Tax under reverse cha....