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2020 (10) TMI 300 - HC - Central ExciseCENVAT Credit - Deposit Insurance and Credit Guarantee Corporation for insuring the deposits of the customers - period after 01.04.2012 - HELD THAT:- The service provided by the Deposit Insurance and Credit Guarantee Corporation to the banks for insuring the deposits of the public with the banks has been considered by the banks to be an input service and CENVAT credit for service tax paid by the banks for this service has been availed of by the banks for rendering output service. The issue involved is whether the banks can avail credit of this service tax paid by the banks for the service provided by the Deposit Insurance Corporation. The impugned order cannot be sustained and the same is accordingly set aside and quashed - Appeal allowed.
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