2016 (2) TMI 940

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..... he confirmation of demand with interest and penalties for the reason that the services rendered by the appellant are not exempted by Notification 29/2004-ST. The said Notification only excludes the value of the amount received by the appellant towards the interest of over-draft facility and cash credit facility. Learned Counsel was correct in pointing out to us that the issue may be covered by the .....

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..... appellant. 2. Heard both sides and perused the records. 3. Appellant is a Co-operative Bank. While rendering output services of Banking and Financial Services they discharged the service tax liability on the value minus the value in respect of interest on over-draft and cash credit facilities. It is the case of the Revenue that amount so reduced from the tax liability is exempted servic .....

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