9911796707
TMI Blog2012 (7) TMI 778X X X X Extracts X X X X X X X X Extracts X X X X ..... rthy: Service tax demand of Rs.2,65,91,471/- has been confirmed on the ground that the following services, namely advisory service, merchant banking service, underwriting of government securities/treasury bills; recovery of expenses of insurance claim, recovery of bad debts etc., recovered by the appellants during the period from April 2000 to December, 2001 are liable to service tax. Show Cause ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncial Services' only. He elaborately explained the definitions of 'Management Consultancy Service', 'Banking and Other Financial Services' etc., to submit that the services provided by them are not covered by the service category under which tax is proposed to be levied. 4. Even though both the sides submitted elaborated arguments and argued in depth, we consider that it may not be appropriate to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ants are covered under one heading or the other. The Circular makes it clear that the services rendered by various firms to assist merger and acquisition as well as other services are broadly covered under 'Management Consultancy Service' and, therefore, it was clarified that these services will be liable to service tax under 'Management Consultancy Service'. The very fact, that the Board had to i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uch officers and all other persons employed in the execution of this Act shall observe and follow such orders, instructions and directions of the said Board:" 6. The very purpose of issue of Circular under section 37B is to ensure that there is uniformity in the classification of excisable goods in this case service tax. If there was divergent views and, therefore, there was a need for an issue ..... X X X X Extracts X X X X X X X X Extracts X X X X
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