Stem cell banking services qualify as healthcare services and are exempt from service tax
The Hon’ble Supreme Court in the case of M/s Stemcyte India Therapeutics Pvt. Ltd. held that stem cell banking services fall within the ambit of “healthcare services” and are exempt from service tax, and that the extended period of limitation under Section 73 of the Finance Act, 1994 was wrongly invoked, as there was no fraud or suppression.