2010 (7) TMI 382 - AT - Service Tax

Waiver of pre-deposit cenvat credit of service tax - technical know how received from the foreign company - Applicant has discharged service tax liability as a recipient of the services from the foreign company Held that - applicant is eligible to avail Cenvat credit - application for waiver of pre-deposit of amounts involved is allowed

Summary

The Appellate Tribunal CESTAT, Bangalore allowed a stay petition for waiver of pre-deposit of Cenvat credit, interest, and penalty. The issue involved the availment of Cenvat credit on technical know-how received from a foreign company. The applicant was deemed eligible for the credit, and recovery was stayed pending appeal.