TaxTMI 
TaxTMI 
2026 (6) TMI 1103
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....oner of Central Tax and Central Excise, Cochin. 2. Briefly stated the facts of the case are that the respondent provided taxable services under the category of 'Banking and other Financial Services'(BOFS, for short), 'credit/debit card', etc. during the relevant period. On the basis of audit of their records by CERA, it was noticed that the appellant had availed inadmissible cenvat credit to the tune of Rs.6,48,46,350/- without having proper documents for the input services received i.e. NFS operation issuance fees during the period from March 2014 to March 2015. A show-cause notice dated 23.11.2016 was issued for recovery of the inadmissible / irregular credit availed on the said input service during the said period without having prope....
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....based on the document of NPCI is valid. Accordingly, the relevant proposal in the subject show cause notice referred is labile to be dropped." 4.1 He has further referred to the letter dated 14.03.2024 to submit that department has accepted the decision of the Tribunal on a similar issue rendered in the case of M/s. Karnataka Bank Ltd., therefore, prays for dismissing the present appeal filed by the Revenue. 5. Heard both sides and perused the records. We find that the issue has already been considered by this Tribunal taking note of the various aspects on the issue and precedent. After analysing the submissions from both sides, this Bench in respondent's own case vide Final Order No. 20610/2024 dated 02.08.2024 has held as follows: ....
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....uch transactions. 5.2 The appellant being a banking/ banking company, proviso to Rule 4A of the STR,1994, applies, which reads as under:- 4A. Taxable service to be provided or credit to be distributed on invoice, bill or challan - (1) Every person providing taxable service[, not later than [thirty] days from the date of [completion] of such taxable service or receipt of any payment towards the value of such taxable service, whichever is earlier, shall issue an invoice, a bill or, as the case may be, a challan signed by such person or a person authorized by him in respect such taxable service provided or [agreed]to be provided and such invoice, bill or, as the case may be, challan shall be serially numbered and shall contai....
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....ayments made with the member bank who had issued the subject card. In nutshell, the above agreement provides for smooth operation of member banks regarding transaction through credit or debit cards or such other instruments, to the customers who perform transactions through ATMs for specified services. The agreement also provides for the NPCI to raise invoices on member bank and it is that payment made by the appellant for which the NPCI has only issued a e-statement that has triggered the first issue. From a perusal of the statement issued by NPCI, we note that it is a self-contained document incorporating all the mandatory requirements of proviso to Rule 4A and in any case, NPCI is not a private body just to ignore its statement; as to th....