2019 (5) TMI 1731

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....l, Advocate for the appellant. Ms. Tamnna Alam, Authorised Representative for the respondent ORDER The appellant is rendering taxable services under the head Banking and Financial Services, Business Auxiliary Services and Stock Broking Services. The appellant is also rendering services as an agent of the Mutual Fund, wherein they provide the services of collection of deposits/subscription....

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....le to pay service tax under Reverse Charge Mechanism. 2. Pursuant to Audit, show cause notice dated 28.01.2016 was issued for 2011-12 to 2013-14 as it appeared to Revenue that services provided by the appellant to the Mutual Fund is an exempt service under the provisions of Rule 2(p) of the Cenvat Credit Rules, as substituted w.e.f. 1.7.2012, which reads as under:- "2(p) "Output servic....

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....ppeal before the Commissioner (Appeals), who was pleased to confirm the demand and reduced the penalty to 50%. Being aggrieved, the appellant is before this Tribunal. 4. Heard the parties. 5. I find that Rule 2 (p) of Cenvat Credit Rules in sofar as it declares a taxable service, is not an output service, where service tax is payable under Reverse Charge Mechanism, by the recipient of servic....