Home Case Index All Cases Service Tax Service Tax + AT Service Tax - 2021 (1) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (1) TMI 181 - AT - Service TaxCENVAT Credit - input services - deposit insurance service provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC) - HELD THAT:- In the decision of the Larger Bench of the Tribunal in South Indian Bank vs. The Commissioner of Customs, Central Excise & Service Tax-Calicut [2020 (6) TMI 278 - CESTAT BANGALORE] it has been held that insurance service provided by the DICGC to the Banks for insuring the deposits of the public with the Banks is an “Input Service” in terms of Rule 2(l) of CCR and Cenvat credit for the service tax paid by the banks for this service can be availed by the banks for rendering output service. In view of the decision of the Larger Bench of the Tribunal in the matter of South Indian Bank, it can be concluded that the issue involved in the instant Appeal is no longer res integra. Credit is allowed - appeal allowed - decided in favor of appellant.
|