2024 (12) TMI 280

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....it, 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 transaction as recorded in books as per accepted ac....

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....ax, 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" means the rate of exchange referred to in the Explanation t....

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....y 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.) * Jet Airways (India) Ltd 2017(7) GSTL J35 (SC) * P.R. Rolling Mills Pvt. Ltd 2....

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....aving 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 service tax along with interest and the service tax paid by them was taken as a Cenvat credit as submitted by the learned Counsel. 4.1....