Case Law Details
CESTAT, CHENNAI BENCH
City Union Bank Ltd.
versus
Commissioner of Central Excise & Service Tax, Trichy
FINAL ORDER NO. 908 OF 2012
appeal no. ST/479 of 2011
AUGUST 30, 2012
ORDER
1. The appellants are challenging the impugned order wherein input credit of service tax availed for the Share Transfer Agent service was denied to them.
2. Heard both sides and perused the case records.
3. The appellant Bank is a Public Limited company and registered with various Stock Exchanges. During the course of their activities, their company was registered with various Stock Exchanges and availed the service of the share transfer and paid service tax thereof. The said Service tax was proposed to be denied on this activity on the premise that the same is not related to main activity of the appellants i.e. banking and financial services,
4. This issue has been settled by the Hon’ble High Court of Mumbai in the case of CCE v. Ultratech Cements (P.) Ltd. [2010] 29 STT 244 wherein the Hon’ble High Court has held that any service availed by the assessee in or in relation to the business of manufacturing or providing output service is entitled to input service credit. Therefore, the issue is no longer res integra. Following the judgment of the Hon’ble High Court of Mumbai in the case of Ultratech Cements (P.) Ltd. (supra), I hold that the appellants are entitled for Share Transfer Agent service availed by the Appellant by allowing the appeal and setting aside the impugned order, if any.
