The Commissioner of CGST and Central Excise filed a civil appeal against M/S Edelweiss Financial Services LTD. The appeal arose from a judgment and order passed by the Custom Excise Service Tax Appellate Tribunal, West Zonal Bench at Mumbai, which had upheld the Principal Commissioner GST's finding in favor of the assessee. The core issue was whether the issuance of corporate guarantees to group companies without consideration constitutes a taxable service. The Revenue sought to challenge the finding that the assessee had not received any consideration. The respondent argued that such guarantees are not taxable under the Finance Act, 1994. The Tribunal's judgment emphasized the importance of 'consideration' for determining service tax liability.

The Commissioner of CGST and Central Excise filed a civil appeal against M/S Edelweiss Financial Services LTD. The appeal arose from a judgment and order passed by the Custom Excise Service Tax Appellate Tribunal, West Zonal Bench at Mumbai, which had upheld the Principal Commissioner GST's finding in favor of the assessee. The core issue was whether the issuance of corporate guarantees to group companies without consideration constitutes a taxable service. The Revenue sought to challenge the finding that the assessee had not received any consideration. The respondent argued that such guarantees are not taxable under the Finance Act, 1994. The Tribunal's judgment emphasized the importance of 'consideration' for determining service tax liability.