2025 (11) TMI 1277

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....services such as management and maintenance services, manpower recruitment services, cargo handling services, business support services etc; they availed the facility of overdraft from banks on the strength of corporate guarantee provided by M/s G4S Plc, UK ('G4S UK'), its holding company, on its behalf; Based on an audit conduct on the records of the Appellant, it appeared to the Revenue that the appellants are liable to pay service tax, amounting to Rs. 1,45,20,881, on the corporate guarantee provided by G4S UK, during the period 2009-10 to 2015-16, under the category of 'Banking and Other Financial Services' ('BOFS'), on reverse charge basis before or after 01.07.2012, as the provision of corporate guarantee is no....

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....ny engaged in providing the financial or banking services; as per Section 65(12)(a)(ix) read with Section 65(105)(zm) of the Act, services provided by a banking company or financial institution including NBFC or any other body corporate or commercial concern qualify as BOFS; G4S UK is not a banking company or a financial company or any other body corporate or commercial concern engaged in business of banking and financial services; as per Section 65(12)(a)(ix) read with Section 65(105)(zm) of the Act, financial services namely lending, providing bank guarantee, overdraft facility etc. provided by a banking company or financial institution including NBFC or any other body corporate or commercial concern qualify as BOFS; it is pertinent to no....

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....astructure & Logistics Private Limited v2024 (9) TMI 462-CESTAT New Delhi * M/s. Omaxe Chandigarh Extension Developers Private Limited 2024 (9) TMI 1494-CESTAT New Delhi 4. Shri Aniram Meena assisted by Shri S.K. Meena, learned Authorised Representative for the Revenue, reiterates the findings of the impugned order. 5. Heard both sides and perused the records of the case. Brief issue involved in this case is as to whether the appellants are liable to pay service tax, on the Corporate Guarantee provided by their Overseas parent company, for the loans obtained by the appellants from Banks, under Banking and Other Financial Services. Interestingly, the Revenue does not establish as to how the Overseas Parent Company of the appel....

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....id definition under section 65 (12) of the Finance Act. The present appellant do not under any of such categories/ lists, as there is no denial to the fact that appellant is not in busine financing, it is neither a banking nor a non-banking financial institute, nor it is any other body corporate or commercial concern which is into the business of extending financial supports. This fact is sufficient to hold that appellant cannot be covered under the category of such persons who would be excisable to tax under the category of BOFS) 8. We further observe that any activity cannot be called as service until there is an element of 'consideration'... Now the definition of service in Section 65 B (44) of Finance Act, 1944 becomes rele....