9911796707
TMI Blog2016 (12) TMI 930X X X X Extracts X X X X X X X X Extracts X X X X ..... ment of service tax on the part of the appellant. The appellant also cites the provisions of Section 80 of the Finance Act, 1994 stating that there was reasonable cause for non-payment of service tax in the matter. The facts of the present case are similar to the Tribunal’s decision in the case of Bharat Forge Ltd. Vs. CCE, Pune [2016 (1) TMI 260 - CESTAT MUMBAI], wherein it was held that The prompt payment of service tax even before the issue of show cause notice shows the genuineness of the appellant. It is a case of bonafide belief of the appellant that service tax was not payable. Even the interest was paid soon after the passing of the adjudication order. Most importantly, it is seen that whatever tax is paid by the appellant is ava ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Banking and Financial services received from the banks located outside India in relation to External Commercial Borrowings (ECB). 2. The appellant has been represented by Shri AK Prasad, ld. advocate and Revenue was represented by Mr. Sanjay Jain, ld. Departmental Representative. 3. Ld. advocate based on appeal memo inter alia mainly submits as under:- (i) The appellant raised funds in foreign currency by availing ECB. The appellants are under bona fide belief that the liability of paying service tax on ECB loans is on the Indian branches of the said banks and therefore they could not pay the service tax on the fee, etc. charged by the banks in relation to ECB loans provided by foreign banks to them. (ii) As soon as on the ad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice tax on the part of the appellant. 6.1 The appellant also cites the provisions of Section 80 of the Finance Act, 1994 stating that there was reasonable cause for non-payment of service tax in the matter. The facts of the present case are similar to the Tribunal s decision in the case of Bharat Forge Ltd. Vs. CCE, Pune (supra), wherein it was held as under:- 5. We have considered the submissions of the learned counsel. We find that the appellant paid the service tax on 18-12-2007 whereas the show cause notice was issued on 11-8-2008 and adjudicated on 18-8-2011. The prompt payment of service tax even before the issue of show cause notice shows the genuineness of the appellant. It is a case of bona fide belief of the appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X
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