Amount Deducted by Foreign Banks Towards Banking Charges Are not Taxable under Banking And Other Financial Services: CESTAT [Read Order]

Amount- Deducted - Foreign- Banks - Banking -Charges - Taxable - Banking - Financial- Services-CESTAT-TAXSCAN

The Chennai Bench of Customs, Excise & Service Tax Appellate Tribunal (CESTAT) has held that the amount deducted by foreign banks towards banking charges is not taxable under banking and other financial services. The appellant M/s. Kadri Mills (CBE) Ltd challenged the passed by the Commissioner of Central Excise (Appeals), Salem. The appellant is a…

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