9911796707
TMI Blog2018 (10) TMI 759X X X X Extracts X X X X X X X X Extracts X X X X ..... registration number, name and address of the service provider, then the jurisdictional service tax authority may allow CENVAT credit subject to his satisfaction that the services covered by the said document have actually been received and accounted for in the books of account of the receiver of such service. On perusal of the documents submitted by the learned Consultant, it is found that there is nexus between the service provider and the appellant - However, considering the fact that the requirement of sub-rule (2) of Rule 9 of the Rules have not been complied with by the appellant, the matter should go back to the original authority for proper appreciation of the fact, whether the benefit provided in the proviso clause appended to su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax amount paid by the appellant to M/s Bloomerg has not been reimbursed by M/s Deutsch Bank A.G. Thus, the department concluded that the provisions of sub-rule (2) of Rule 9 and sub-rule (7) of Rule 4 of the CENVAT Credit Rules, 2004 have not been complied with by the appellant. Accordingly, show cause proceedings were initiated against the appellant, seeking for denial of CENVAT credit taken on the basis of invoices issued by M/s Bloomerg. The show cause notice issued in this regard was adjudicated vide order dated 21/03/2017, wherein CENVAT credit amount of ₹ 17,45,517/- was disallowed along with interest. Besides, adjudication order also imposed penalties under Section 77 of the Finance Act, 1994 and Rule 15(3) of the CENVAT Cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... edit has been rightly denied by the authorities below. 4. Heard both the sides and perused the records. 5. Sub-rule (2) of Rule 9 of CENVAT Credit Rules, 2004 mandates that the documents based on which credit has to be availed, should contain the requisite particulars provided under the Central Excise Rules, 2002 or the Service Tax Rules, 1994. However, the proviso clause appended to the said sub-rule (2) relaxes the condition regarding the contents in the document, and it has been prescribed therein that if the document contains the information regarding service, registration number, name and address of the service provider, then the jurisdictional service tax authority may allow CENVAT credit subject to his satisfaction that the ser ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e by the appellant to the input service provider, i.e., to Bloomberg (because actually the value of input service as mentioned in the input service invoices raised by the Bloomberg was first paid by the appellant to Bloomberg and later on such payment was reimbursed by the Deutsche Bank to the appellant), against the mandate, provided under Rule 9(2) of CCR and Rule 4(7) of CCR respectively. 7. It is an admitted fact on record that provisions of sub-rule (2) of Rule 9 of the Rules have not been complied with by the appellant. However, on perusal of the above observations of the learned Commissioner (Appeals), it transpires that there is a tripartite arrangement between the three parties namely, the appellant, M/s Deutsch Bank A.G. and ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
