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TMI Blog2018 (2) TMI 940X X X X Extracts X X X X X X X X Extracts X X X X ..... edit availed on trading activity - matter needs verification of the reversal done is in accordance with the law or otherwise. Decided partly against appellant and part matter on remand. - Appeal No. ST/26214/2013 - Final Order No. A/30027/2018 - Dated:- 17-1-2018 - Mr. M. V. Ravindran, Member ( Judicial ) Shri Priyojeet Chatterjee, Advocate for the Appellant Mrs. B.V. Siva Naga Kumari, Commissioner/AR for the Respondent ORDER [ Order Per : Mr. M. V. Ravindran ] 1. This appeal is directed against Order-in-Original No.49/2012-Adjn. (ST), dated 31.12.2012. 2. Heard both sides and perused records. 3. On perusal of records, it transpires that the issue is regarding denial of cenvat credit of the service tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble output services, it is his submission that trading activity during the period in question was not an exempted service; that any insertion made by notification cannot be made applicable for the past period, which can be trouble in nature. He submits that during the trading activity, this was not considered as exempted service by various provisions of the Tribunal. It is his further submission that in any case they have maintained separate books of accounts and proportionate cenvat credit attributable to the trading activity has been availed and plea made before the adjudicating authority who had not considered the same. 5. Ld. Commissioner/AR submits that commission paid by appellant is for the procurement of orders of AMCs and any se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ide. 7. As regards confirmation of demand raised on the issue of trading activity being exempted services, I find that Ld. Commissioner/AR was correct in bringing to the knowledge of the Bench that judgment of Hon ble High Court of Madras in the case of FL Smidth Pvt. Ltd. and Ruchika Global Interlinks (supra) squarely covers the issue in favour of the appellant(s). The judgments clearly settled the law, that pre and post 01.04.2011, trading activity has to be considered as an exempted service and on a specific query from the Bench, Ld. Counsel was not able to bring to the notice of the Bench, any contrary view expressed by any High Court. Since the issue is settled that trading activity is an exempted service, appellant needs to fol ..... X X X X Extracts X X X X X X X X Extracts X X X X
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