- (1.) This is an appeal against the order of Customs, Excise & Service Tax Appellate Tribunal, dated 26-7-2011 relating to the service tax. The appellant is a bank, engaged in the business of providing banking and financial services to its customers including issuance of credit cards. Commissioner of Central Excise, Noida, who has also jurisdiction to deal with the service tax, issued show cause notice under Section 73 of the Finance Act, 1944 (hereinafter referred to as the "Act") for the period 1-6-2002 to 30-4-2006 to show cause why the service tax amounting to Rs. 2,63,42,711/- and education cess amounting to Rs. 4,13,431/-, aggregating to Rs. 2,67,56,142/- be not demanded under the provisions of Section 73 of the Act and why the penalty under Sections 76, 77 and 78 of the Act may not be levied. The reply has been filed by the appellant and thereafter, by order dated 21-1-2009 the demand has been confirmed by Commissioner of Central Excise and penalty has also been levied under Sections 76, 77 and 78 of the Act. Being aggrieved by the order, the appellant filed appeal No. 578 of 2009, which has been partly allowed. However, so far as demand towards service tax is concerned, same has been confirmed. Learned counsel for the appellant submitted that sub-section (105) of Section 65 defines "taxable service", the relevant clause for consideration is clause (zm), which prior to 10-6-2004 reads as follows: to a customer, by a banking company or a financial institution including a non-banking financial company, or any other body corporate or commercial concerned, in relation to banking and other financial services.
(2.) The said clause has been substituted by Finance Act, 2004 w.e.f. 10-9-2004, which reads as follows: to a customer, by a banking company or a financial institution including a non-banking financial company, in relation to banking and other financial services.
(3.) With effect from 1-5-2006 clause (zzzw) has been added as "to any person, by any other person, in relation to credit card, debit card, charge card or other payment card service, in any manner.";