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TMI Blog2018 (8) TMI 950X X X X Extracts X X X X X X X X Extracts X X X X ..... under the head “Financing”. Tribunal in the matter of Commr.of C.Ex., Delhi-III vs. Fiamm Minda Automotive Ltd. [2016 (3) TMI 64 - CESTAT NEW DELHI] has been held that the CENVAT credit of Service Tax paid on the Banking and other financial services which have been used/utilised for accomplishing the purpose of business towards payment of export clearance of the final produce, is available to the manufacturer/service provider in terms of Rule 2(l) of CENVAT Credit Rules, 2004. So far as the extended period of limitation is concerned, since on merits the case is decided in favour of the Appellant therefore there is no need to go into this issue. Appeal allowed - decided in favor of appellant. - Appeal No. E/51316/2018-SMC - Final ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ultant for the Appellant and ld. AR for the department and perused the record. According to the ld. Consultant appearing for the Appellant, the services received for Banking Financial Services were availed by them for the purpose of causing export and realisation of export proceed, as realisation of export proceeds is a necessary concomitant of export and a statutory requirement under Foreign Exchange Management Act, 1999 and various export incentives and therefore the same is eligible for input service credit. He further submitted that realisation of export proceeds is also covered under Accounting Financing as inclusive part of definition of input service as per Rule 2(l) of the Cenvat Credit Rules, 2004. He also submitted that althou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ting, auditing, financing, recruitment and quality control, coaching and training, computer networking, credit rating, share registry, security, business exhibition, legal services, inward transportation of inputs or capital goods and outward transportation up to the place of removal; Section 11AC(1)(a) of Central Excise Act, 1944 (1) The amount of penalty for non-levy or short-levy or non-payment or short-payment or erroneous refund shall be as follows:- (a) where any duty of excise has not been levied or paid or has been short-levied or shortpaid or erroneously refunded, for any reason other than the reason of fraud or collusion or any wilful mis-statement or suppression of facts or contravention of any of the provisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... definition of input service in Rule 2(l) under the head Financing , since the said services have been utilised for the purpose of business and therefore according to me the Cenvat Credit amounting to ₹ 3,78,176/- is available to the Appellant, in terms of Rule 2(l) of the Cenvat Credit Rules, 2004. I also found support from the decision of this Tribunal in the matter of Commr.of C.Ex., Delhi-III vs. Fiamm Minda Automotive Ltd. reported in 2016(43) STR 549 (Tri.-Del.) in which it has been held that the Cenvat credit of Service Tax paid on the Banking and other financial services which have been used/utilised for accomplishing the purpose of business towards payment of export clearance of the final produce, is available to the manufac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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