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TMI Blog2018 (5) TMI 1218X X X X Extracts X X X X X X X X Extracts X X X X ..... s paid. Revenue entertained a view that the balance amount was also a service and it was an exempted service - invocation of Sub Rule (3) of Rule 6 of Cenvat Credit Rules, 2004 - Held that: - the value on which Revenue has demanded amount under Sub Rule (3) of Rule 6 of CCR 2004 does not represent value of exempted services - demand set aside - appeal allowed - decided in favor of appellant. X X X X Extracts X X X X X X X X Extracts X X X X ..... insurance. The amounts received by the appellant were more than the amount on which service tax was paid. Revenue entertained a view that the balance amount was also a service and it was an exempted service and appellants were receiving input services and were availing Cenvat Credit of service tax paid on input services and, therefore, they were required to pay 6% or 8% of the balance value under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellant receives from a policy holder can be divided in three parts and amount is collected through a single contract. One part covers the life insurance (i.e., risk cover), the other part is investments which are invested so that the risk covers can be honoured and the third part is overheads. He has submitted that under Section 67 of Finance Act, 1994 consideration includes any amount that is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... was subjected to payment of service tax and that the remaining amount does not qualify to be defined as consideration for providing any service and show cause notice has not established that the remaining part is consideration for providing any service. The show cause notice proceeds with presumption that the remaining part of the amount received by them which is investment and overheads is also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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