2009 (1) TMI 117

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..... annual custody fees and maintenance of fax machine – revenue submits that these activities cannot be said to be related to the manufacturing activity directly or indirectly and therefore the credit is not admissible – impugned services are covered by definition of “Input services” – therefore, credit cannot be denied – assessee’s appeal allowed
Shri B.S.V. Murthy, Member (Technical) (Final Or .....

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..... OC is issued by the bank when company wants to borrow and there is a service charge levied by the bank on which service tax is paid. He submits that this is clearly covered by the financing activity listed in the definition. As regards annual custody fees he submits that this is an activity related to share registry since once custody is transferred to CDSL or NSDL, the regular day to day operatio .....

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..... ncludes" basically for the reason that the services which are enumerated after the words "and includes" are those services which may not be considered as directly or indirectly relatable to manufacture but yet the intention is to provide the benefit of credit of service tax paid on such services as CENVAT credit. Therefore what is required to be examined is whether the services on which credit has .....

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