Merger & Acquisition Advisory Not Taxable as Management Consultancy; No Service Tax on Shareholders for Share Sale Transactions: CESTAT

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Merger & Acquisition Advisory Not Taxable as Management Consultancy; No Service Tax on Shareholders for Share Sale Transactions: CESTAT

Indirect Taxes

Published on

14/04/2026

By Mariya Paliwala

Merger & Acquisition Advisory Not Taxable as Management Consultancy; No Service Tax on Shareholders for Share Sale Transactions: CESTAT

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The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Hyderabad Bench, has held that advisory services relating to merger and acquisition (M&A) cannot be classified under “Management or Business Consultancy Service” for the relevant period, thereby setting aside the service tax demand raised on individual shareholders. The bench of Angad Prasad (Judicial Member) and A.K….

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Mariya Paliwala https://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.

Merger & Acquisition Advisory Not Taxable as Management Consultancy; No Service Tax on Shareholders for Share Sale Transactions: CESTAT

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