Supreme Court Rules Stem Cell Banking is Healthcare Service, Exempt from Tax
The Supreme Court held that stem cell banking services qualify as "Healthcare Services" under Notification No. 25/2012-ST, exempting them from service tax. The Court ruled that the extended limitation period under Section 73 of the Finance Act, 1994, was unwarranted as there was no suppression or intent to evade tax. The subsequent Notification No. 4/2014-ST, though prospective, was deemed clarificatory. Penalties were set aside due to the appellant's bona fide belief and lack of deliberate contravention. The impugned order was quashed, and the refund of the deposited amount was ordered
Facts Of The Case:
The appellant, M/s. Stemcyte India Therapeutics Pvt. Ltd., engaged in the collection, processing, and storage of umbilical cord blood stem cells, claimed exemption from service tax unde...
