No service tax on commission charged by Indian Bank for granting credit facility to foreign service recipient: CESTAT Chennai

Bank of India Vs Commissioner of GST and Central Excise (CESTAT Chennai) CESTAT Chennai held that the service tax not leviable on Indian Bank on the commission charges in respect of granting credit facility to Foreign Service recipient. Accordingly, tax paid allowed as refund provided Indian Bank has not recovered service tax from Foreign Service recipient. Facts- The appellant had issued Standby Letter of Credit (SBLC) in favour of M/s. Aban Singapore Pte. Ltd., which is a subsidiary of M/s. Aban Offshore Ltd. Chennai. The above SBLC was issued to Bank of India, Singapore Branch for a period ...