2018 (10) TMI 214

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....AC (AR) for Respondent ORDER Per: Dr. 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 app....

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....,242/-. Later, a show-cause notice was issued 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 t....

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.... SWIFT would be classifiable under the category 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 thro....

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....t disputed the liability of Service Tax but vehemently 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.....