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Period of limitation not applicable on service tax paid under mistaken notion
Case Law Details
- Case Name
- Way2wealth Brokers Pvt. Ltd Vs Commissioner of Central Tax (Karnataka High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Karnataka High Court
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Way2wealth Brokers Pvt. Ltd Vs Commissioner of Central Tax (Karnataka High Court)
The circular dated 03.08.2011 issued by Central Board of Excise and Customs, New Delhi, clarifies that delayed payment charges received by stock brokers are not includible in taxable value as the same are not the charges for providing taxable services. Such charges are on account of delay in making payments by the service recipient to the service provider and are in the nature of a penal charge for not making payment within the stipulated time. Such amounts are not includible in the taxable value for charging ser...
