Service Tax Demand Overturned: Consultancy Services Classified Correctly, No Penalties or Interest Due.

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....Classification of service provided by company - Not Chartered Accountant Services or Market Research Agency's Services - Nature of services rendered includes consultancy, advice, assistance in mergers & acquisitions, due diligence, financial viability evaluation, classifiable under Management or Business Consultants Services. Services cannot be classified under Chartered Accountant Services as company is not engaged in practice of chartered accountancy or permitted by Institute of Chartered Accountants of India. Export of service - Services provided to PwC Overseas Network Firms, not directly to clients, qualify as export of services under Export of Services Rules, 2005 with consideration received in convertible foreign exchange. Time Limit.........