No Evidence on Record shows Services Received against Foreign Currency Spend: CESTAT quashes Demand, Penalty and Interest [Read Order]

Even if service tax had been paid under the reverse charge mechanism, the appellant would have been eligible for credit on that tax, resulting in no net loss to the revenue
Service tax - CESTAT ruling - Foreign currency tax - Reverse charge - Tax demand quashed - Taxscan

In a significant decision, the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT), Eastern Zonal Bench, Kolkata, dismissed a service tax demand of ₹51,68,799, along with associated penalties and interest, against M/s. Maple Exports Private Limited. The case revolved around foreign currency expenses that the tax authorities claimed were liable for service tax under the…

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