2007 (6) TMI 217

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....T.M. Sreedharan, Advocate, for the Appellant. Shri K. Sambi Reddy, JDR, for the Respondent. [Order per : T.K. Jayaraman, Member (T)]. - This appeal arises out of Order-in-Appeal No. 29/2004/ST dated 21-9-2004 passed by the Commissioner of Central Excise & Customs (Appeals), Cochin. 2. The appellant provides services to clients under Hire Purchase Scheme. When the appellant got regis....

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.... 4. Heard both sides. 5. The Banking and Financial Services came under the Service tax net w.e.f 16-7-2001. At that time, CBEC issued clarification to the effect that in respect of Hire Purchase Contracts entered prior to 16-7-2001 and instalments of which were received after 16-7-2001, there is no Service tax liability. In our view, the same logic is applicable to the present case....