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HomeIndirect TaxesMutual Fund Investment Is Not an ‘Exempted Service’; CESTAT Quashes CENVAT Credit...

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

Indirect Taxes

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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
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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