Selling Loan Products Taxable u/s 66B of Finance Act 1994; Ignorance of Law Not a Valid Defense.

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....Levy of service tax - service to financial institutions in relation to selling of their loan products to their customers - taxability of commission - It is abundantly clear that the appellant was providing taxable service which is chargeable to service tax in terms of section 66B of the Finance Act, 1994. The appellant cannot be allowed to plead ignorance of law. - AT....