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HomeIndirect TaxesBank of India Not Liable to Pay 8% on Exempt Services: CESTAT...

Bank of India Not Liable to Pay 8% on Exempt Services: CESTAT Orders Proportionate CENVAT Credit Reversal Instead

Indirect Taxes

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By Mariya Paliwala
Bank of India Not Liable to Pay 8% on Exempt Services: CESTAT Orders Proportionate CENVAT Credit Reversal Instead

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The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Kolkata Bench, has set aside major service tax demands raised against Bank of India, holding that the bank cannot be compelled to pay 8% of the value of exempt services when it intended to reverse proportionate CENVAT credit.  The bench of  Ashok Jindal (Judicial Member) and…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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