Mutual Fund Investment Is Not an ‘Exempted Service’; CESTAT Quashes CENVAT Credit Demand

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Mutual Fund Investment Is Not an ‘Exempted Service’; CESTAT Quashes CENVAT Credit Demand

Indirect Taxes

Published on

05/02/2026

By Mariya Paliwala

Mutual Fund Investment Is Not an ‘Exempted Service’; CESTAT Quashes CENVAT Credit Demand

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The Customs, Excise and Service Tax Appellate Tribunal (CESTAT), New Delhi, has set aside a service tax demand of over ₹1.70 crore, holding that subscription and redemption of mutual fund units cannot be treated as trading of goods or an exempted service, and therefore proportionate reversal of CENVAT credit is not required. The bench of…

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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.

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Cenvat Credit Demand

Mutual Fund Investment Is Not an ‘Exempted Service’; CESTAT Quashes CENVAT Credit Demand

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