TaxTMI 
TaxTMI 
2025 (6) TMI 1424
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....ia (NPCI) site is admissible in terms of Rule 9 of Cenvat Credit Rules (CCR), 2004. Appellant is registered under the taxable services of Banking and Other Financial Services, Commercial Training and Coaching Service, etc. Alleging that the appellant had failed to pay service tax on discount received on Collateralised Borrowing and Lending Obligations (CBLO) and irregular availment of cenvat credit, proceedings were initiated and adjudicating authority as per the impugned order held that the service tax is not payable in respect of CBLO transaction; however, confirmed the demand of Rs.6,70,59,302/- being the cenvat credit availed / utilised wrongly on the basis of transaction statements for the period from 2010-11 to 2014-15. The adjudicati....
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....onsideration for the period from 01.07.2012 to 31.03.2015. 5. We find that the adjudicating authority vide Order-in-Original No.MLR-EXCUS-000-COM-SP-04/19-20 dt.26.11.2019 in the appellant's own case had dropped the demands for the subsequent period from April 2015 to June 2017 on both the above issues. The findings recorded by the adjudicating authority in paragraphs 29-30 for the first issue are reproduced below: "29. It is a fact that NPCI is a statutory institution functioning under RBI and they function as the interface between the banks in providing the cross-bank ATM transactions in a seamless way. Further, they generate the e-statements pertaining to the cross-bank ATM transactions on behalf of the service provider bank as per th....
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.... ELT 200 (Tri.-Del.)]." 6. With regard to the second issue of denial of credit admissibility with regard to output services ATM transactions, the Commissioner for the subsequent period held as follows: "34. On the issue of denial of credit admissibility on charge free ATM transactions, I find that NPCI provides the intermediary network searching and other supportive services when a transaction is made in an ATM, it incorporates such transactions with Bank Account of the respective customer. When each ATM transaction takes place NPCI assumes the role of facilitator of such transactions. Each ATM transaction that takes place whether intra bank or cross-hank transaction, is enabled by the infrastructure provided by the NPCI. In the normal c....