Announced Thu, 16 Jul · 18:18 IST
CESTAT sets aside Rs 7.87 crore service tax demand in company favour
Regulatory & Legal View source PDF
SPECIALITY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+4.2%1-day move
₹130.00
prior close
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base price
After-mkt
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AI summary
CESTAT Mumbai has ruled in favour of Speciality Restaurants, setting aside an October 2018 order that had upheld a Rs 7.87 crore service tax demand. The demand related to alleged non-reversal of CENVAT credit for the period August 2012 to March 2015. The tribunal allowed the company appeal, finding no merit in the impugned order against the company.
Likely market impact
Positive outcome. The Rs 7.87 crore service tax demand on the company is set aside, removing this potential liability.