Service Tax not payable on Insurance premium received prior to 10.09.2004: SC

Commissioner of Central Excise Pune III Vs Bajaj Allianz General Insurance Company Ltd (Supreme Court)

The question before the learned Customs, Excise & Service Tax Appellate Tribunal [for short ‘the Tribunal’] was whether the service tax was payable on a premium in terms of the insurance policy covering the future period at revised rates, if the rates are revised by law during the operation of policy already issued and service tax liability is discharged.

The learned Tribunal, by

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