PNB fraud due to failure of internal control, says RBI.:      Celeb jeweller Nirav Modi named in PNB’s $1.77-b fraud. Bank suspends 10 officers, lodges complaint with CBI; more banks may be hit. :      Bombay High Court in a hearing on 6th Feb, 2018 says GST regime is not user friendly. :      GST Network Chairman Ajay Bhushan return simplification panel to meet industry this week to simplify the return filing process.:    Finance Secretary Hasmukh Adhia said the Government stares at a Rs 50,000 crore GST revenue shortfall in the current fiscal. :    E-Way Bill which was to be rolled-out on 1st Feb is deferred to month-end due to technical glitches.:      TN raked in 22% more GST at Rs 23,318 crore between Jul-Dec 2017, against Rs 19,018 crore under VAT in the corresponding period the previous year. :      MoS,Corp Affairs PP Chaudhary says in Rajya Sabha that Govt has detected GST evasion of Rs 5.70 Crores in 16 cases during Jul-Nov 2017 - 6th Feb 2018. :      FM, Arun Jaitley says that States are not in favour of bringing the petroleum products under GST. :      The Finance Secretary, Hasmukh Adhia says out of 7 lakh tax payers who opted for composition scheme 5 lakhs had a turnover less than Rs 5 lakhs pa, though the exemption limit is upto Rs 20 lakhs. :     

CESTAT Chennai : Commissioner of Central Excise, Coimbatore Versus Sakthi Finance Ltd. : 13th March, 2017


Appeal No. ST/92/2006
[Arising out of Order-in-Appeal No.93/2005-ST dt. 11.11.2005 passed by the Commissioner of Central Excise (Appeals), Coimbatore]

Commissioner of Central Excise, Coimbatore


Sakthi Finance Ltd.

Shri S. Govindarajan, AC (AR) For the Appellant
Shri Raghavan Ramabhadran, Advocate For the Respondent

Honble Shri D.N. Panda, Judicial Member
Honble Shri Madhu Mohan Damodhar, Technical Member

Date of Hearing / decision : 13.03.2017

FINAL ORDER No.40489/2017

Per D.N. Panda

Show cause notice does not show what is the service intended to be taxed.

2. Ld. D.R says that Revenue intended to tax 'refinancing service charges' received by the respondent under section 65 (105) (zm) of the Finance Act,1994 read with the definition of "Banking and Other Financial Services" provided by Section 65 (12) thereof. In absence of any foundation in the SCN, it is very difficult to agree with the Revenue to levy tax arbitrarily. Accordingly Revenue's appeal is dismissed.

(Dictated and pronounced in open court)

(Madhu Mohan Damodhar)             (D.N. Panda)
Technical Member                 Judicial Member


Additional Info

  • Date Range: Monday, 13 March 2017
  • Court/Authority: CESTAT
  • Tax Type: Service Tax
  • Petitioner/Appellant: Commissioner of Central Excise, Coimbatore Versus Sakthi Finance Ltd.
  • Respondent: Commissioner of Central Excise, Coimbatore Versus Sakthi Finance Ltd.
  • Appl no. or Appl year: Appeal No. ST/92/2006
  • Supreme Court Location: Delhi
  • CESTAT Location: Chennai
  • AAR Location: Delhi
  • Authority: Supreme Court

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