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HomeIndirect TaxesProfit Margin on Sale of Imported Gold Bullion Not Taxable as ‘Consignment...

Profit Margin on Sale of Imported Gold Bullion Not Taxable as ‘Consignment Agent’ Service: CESTAT

Indirect Taxes

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By Mariya Paliwala
Profit Margin on Sale of Imported Gold Bullion Not Taxable as ‘Consignment Agent’ Service: CESTAT

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The Bangalore Bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) has ruled that profit margins earned by a bank from the sale of imported gold bullion cannot be subjected to service tax by treating such activity as “Consignment Agent Services.”  The bench of P.A. Augustian (Judicial Member) and R. Bhagya Devi (Technical…

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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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