Race Promotion Contract between Formula One World Championship and Jaypee Sports not Franchise Agreement: CESTAT quashes Service Tax Demand [Read Order]

The CESTAT quashed service tax demand and noted that the Race Promotion Contract between Formula One World Championship and Jaypee Sports is not franchise agreement

By Kalyani B. Nair - On February 20, 2024 5:33 pm - 2 mins read

CESTAT - CESTAT Allahabad - Service Tax - Service Tax Demand - Race Promotion Contract - taxscan

The Allahabad Bench of the Customs, Excise and Service Tax Appellate Tribunal ( CESTAT ) quashed service tax demand and noted that the Race Promotion Contract between Formula One World Championship and Jaypee Sports is not franchise agreement. The present appeal was directed against the order passed by the Commissioner, Service Tax, Noida, by which…

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