Whether leasing out of tankers is chargeable to service tax under the category of “Banking and Financial Services”

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..... Whether leasing out of tankers is chargeable to service tax under the category of “Banking and Financial Services”
News and Press Release
Dated:- 12-9-2007

In the present case (reported .....

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..... in 2007 -TMI - 1637 - CESTAT, CHENNAI - Service Tax) the assessee is the manufacturers of oxygen and nitrogen (both in gaseous and liquid forms). These chemicals are cleared from factory in cryogenic .....

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..... tankers. The appellants are possessed of such tankers which, when not required for their purpose, are leased out to other parties. Honorable tribunal after considering the facts and circumstances, ha .....

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..... s found that Apparently this activity is not covered under "Banking and Financial Services" and granting stay or recovery pre-deposit of demand.
News - Press release - PIB .....

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