Cenvat Credit allowable of Service tax for Financial Services provided by Bank: CESTAT [Read Order]

The Tribunal observed that the banking activities do not have any nexus with the manufacture of the finished product
CESTAT - CESTAT Chennai - Service tax - Cenvat Credit - Financial Services - TAXSCAN

The Chennai bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) has held that Cenvat Credit allowable service tax for financial services provided by the bank. M/s. Wendt India Limited, the appellant is a manufacturer of “Diamond Grinding Wheels” falling under Chapter Sub-Heading No. 68042110 of the First Schedule to the…

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