Policy Administration Charges leviable to service tax w.e.f. 01.05.2011

Max Life Insurance Company India Ltd Vs Commissioner of Central Excise (CESTAT Delhi) CESTAT Delhi held that Policy Administration Charges is leviable to service tax with effect from 01.05.2011 via amendment to definition under section 65(105)(zx) of the Finance Act, wherein, the words ‘by an insurer including re-insurer carrying on life insurance business’ are substituted. Facts- The issue in this appeal is whether service tax was leviable under “Investment or Management Service under ULIP” under Section 65(105)(zzzzf) of the Finance Act for the period 1.7.2010 to 30.04.2011 on Policy...