CESTAT Quashes Service Tax Demand on Group Life Insurance Schemes on ground of Benefit of Closure u/s 73(3) of Finance Act [Read Order]

CESTAT Quashes- Service Tax Demand - Group Life Insurance- Schemes - ground - Closure - Finance Act-TAXSCAN

The Hyderabad bench of the Customs, Excise and Service Tax Appellate Tribunal (CESTAT) quashed the service tax demand imposed on group life insurance schemes on the ground of benefit of closure defined under section 73(3) of the Finance Act,1994.  Shriram Life Insurance Co. Ltd, the appellant assessee was a life insurance company and was registered…

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