2024 (12) TMI 280

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....), MR. C L MAHR Shri Saurabh Dixit, Advocate for the Appellant Shri Anand Kumar, Superintendent (AR) for the Respondent ORDER RAMESH NAIR The issue involved in the present case is that whether the appellant is liable to pay differential Service Tax on the differential service value on account of FOREX rate fluctuation (forex rate adopted by the appellant on the basis of the transact....

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.... service and rate of exchange. - The rate of service tax, value of a taxable service and rate of exchange, if any, shall be the rate of service tax or value of a taxable service or rate of exchange, as the case may be, in force or as applicable at the time when the taxable service has been provided or agreed to be provided. Explanation.- For the purposes of this section, "rate of exchange....

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....imitation. Even if any tax was payable, the same pertained to purely production related activity and hence, was eligible as Cenvat Credit anyway to them. Under the circumstances, in case of revenue neutral situation, extended period of limitation is never invokable. In this regard he placed reliance on the following judgments: - * Jet Airways (India) Ltd 2016 (44) STR 465 (Tri.) ....

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....d nor can be waved. He placed reliance on the Hon'ble Supreme court Judgment in the case of Union of India Vs. Rajasthan Spinning & Weaving Mills reported in 2009 (238) ELT 3 (SC). 4. We have carefully considered the submission made by both the sides and perused the records. We find that the appellants have raised the issue of limitation only for dropping of penalty. However, they have paid the....