Practical Accounts And Taxation
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The Assessee which operates in india on behalf of a foreign based parent company, obtained the corporate guarantee in favor of Banks in India, for which it paid commission of 1% to parent company.
The department held that the such activity is a part of Business Auxiliary service and assessee is lible to pay service tax thereof. Assessee appealed in CESTAT against revenue.
The Tribunal held that Business Auxiliary Services covers all the activities which are conducted to promote business, thus mere changing word bank guarantee to corporate guarantee cant create an exception to this, so Activity of Assessee falls under the Business Auxiliary services category and is liable to pay service tax.
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