Service Tax - Cestat Ahmedabad: Service tax is not leviable under reverse charge on amount later refunded by the Foreign Financial Institution to the Appellant - The disputed transactions were reflected in the balance sheets for the relevant years and also the Service tax payment would have been available as Cenvat Credit which is revenue neutral exercise, hence no penlty is leviable – Appeal allowed [Order attached]

17-Nov-2022 14:47:42