No Service Tax on Foreign Bank Charges for Export Remittances: CESTAT Chennai

SKM Egg Products Export (India) Ltd. Vs Commissioner of GST & Central Excise (CESTAT Chennai) In a recent ruling, the Chennai bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has set aside a service tax demand against M/s. SKM Egg Products Export (India) Ltd., concerning charges deducted by foreign banks for export proceeds. The decision, delivered in the case of SKM Egg Products Export (India) Ltd. Vs Commissioner of GST & Central Excise, reiterates previous judgments on the same issue and brings clarity to the taxability of such foreign bank deductions. The a...