2019 (9) TMI 1123

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..... 2. Appeal No. ST/60753/2017 and ST/60758/2017, as these appeals are having a common issue, therefore, both appeals are disposed by way of a common order. The appellant-assessee is also filed a miscellaneous application to bringing additional evidence on record. The additional evidence produced by the appellant-assessee is very necessary for disposal of the appeal, therefore, the same were taken up on record and the application is allowed. 3. The facts of the case are that appellant-assessee is engaged in the providing various taxable services and are registered with the department paying service tax thereon. During the course of Audit, it was found that the appellant-assessee has provided corporate guarantee to various banks/ financ....

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.... that circumstances, we hold that the appellant-assessee are not liable to pay any service tax on corporate guarantee provided by the appellant assessee to various banks/financial institutions on behalf of their holding company/associate enterprises for their loan or over draft facility under Banking and Financial Institutions after or before 01.07.2012. 4. In view of this, we set-aside the impugned orders qua demand of service tax on corporate guarantee provided by the appellant-assessee. Therefore, no penalty is imposable on the appellant-assessee. Therefore, the appeals filed by the appellant-assessee are allowed. 5. Appeal No. ST/60857/2017, the Respondent is engaged in providing various services such as maintenance of Office Comp....

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....the RBI Guidelines. For better appreciation, the said letter has extracted herein below:- On going through the said letter, we hold that the said amount on which the service tax is being demanded and Upfront Fee is nothing but an interest and on interest, no service tax is payable by the respondent, therefore, we hold that the respondent is not liable to pay service tax on the said amount. Accordingly, we do not find any infirmity with the impugned order qua dropping the demand against the respondent. Therefore, we do not find any merit in the appeal filed by the revenue. Accordingly, the same is dismissed. (Operative part of the order pronounced in the Court) ============= Document 1 Standard Chartered Kind Attention Mr....