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2015 (5) TMI 740 - AT - Service TaxWaiver of pre deposit - Denial of CENVAT Credit - Reinsurance business - Held that:- Prima facie, when the applicant undertake the insurance, i.e. the insurance date of commencement of risk by the insurance company for covering the insurance of Policy holder and that service has to be provided for a particular period of time as per the agreement. So, the output service is provided by the applicant till the termination of agreement, therefore, the service received by the applicant is a services received providing output service and qualify as input service as per rule 2(l) of the CCR, 2004. Therefore, the applicant is entitled to avail Cenvat credit on the reinsurance service received by them as per Rule 2(l) of the CCR, 2004. - Stay granted.
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