TaxTMI 
TaxTMI 
2008 (9) TMI 72
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....of the respondent had been rejected. The Commissioner (Appeals) while upholding the case of the respondent directed them to produce relevant documents before the adjudicating authority to ascertain the refundable amount with a corresponding direction to the adjudicating authority to consider the refund claim in the light of the judgment of the Delhi High Court in the case of M/s. Bajaj Capital Ltd. as well as the provisions of section 11 B of the Central Excise Act. 2. The respondent, M/s. P.N. Vijay Financial Services Pvt. Ltd., are engaged in the business of sale and purchase of units of mutual fund schemes. They were registered with the central excise authorities for the purpose of service tax under the category 'Management Consul....
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....iliary Services'. The appellate authority found that Board's Circular No. 66/13/2003-ST, dated 5-11-2003 stood quashed by the Delhi High Court in the Writ Petition filed by M/s. Bajaj Capital Ltd. In view of the decision of the High Court, the commission received on account of sale and purchase of units of mutual fund schemes was not chargeable to service tax during the relevant period and, therefore, the refund claim could not be rejected. However, in view of the fact that respondents were registered under the category 'Management Consultancy Service' and had deposited service tax without bifurcating the amount paid under the categories 'Business Auxiliary Service' or 'Management Consultancy Service', it was....
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....rs conferred by section 93 of the Finance Act, 1994 (32 of 1994), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the business auxiliary services provided by a commission agent from the service tax leviable thereon under sub-section (2) of section 66 of the said Act. Explanation.-For the purposes of this notification 'commission agents' means a person who causes sale or purchase of goods, on behalf of another person for a consideration which is based on the quantum of such sale or purchase. 2. This notification shall come into force on the 1st day of July, 2003." [Emphasis supplied] From a bare reading of the above Notification, it is clear that 'Business Auxi....
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....tock and shares for the purpose of section 2(7) of the Sale of Goods Act and, therefore, the mutual fund units have to be given same treatment available to sale and purchase of "goods' under Notification No. 13 /2003-ST. As seen above, the definition of 'goods' in section 2(7) of the Sale of Goods Act - which is an inclusive definition - is comprehensive enough to include every kind of movable property other than actionable claims and money. 6. The Board vide Circular No. 66/15/03-ST, dated 5-11-2003 took the view that the activity involved in the sale and purchase of mutual fund units is not covered under Notification No. 13/2003-ST as exemption thereunder is applicable to commission agents dealing in 'goods' whereas....