The Mumbai Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) has held that service tax is payable on the operation of PPF accounts after September 10, 2004.The bench of S.K. Mohanty (Judicial Member) and M.M. Parthiban (Technical Member) has observed that the value of services received by a service provider prior to 10.9.2004 in respect of "operation of bank accounts"...
