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2023 (1) TMI 933 - AT - Service TaxLevy of Service tax - deposit insurance service - whether the banks can avail credit of the service tax paid by the banks for the service provided by the Deposit Insurance Corporation? - HELD THAT:- A Division Bench of the Tribunal in M/S. INDIAN OVERSEAS BANK AND SHRI S. CHOCKALINGAM VERSUS COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX, CHENNAI [2022 (6) TMI 539 - CESTAT CHENNAI] followed the decision rendered by the Larger Bench in M/S. SOUTH INDIAN BANK VERSUS THE COMMISSIONER OF CUSTOMS, CENTRAL EXCISE AND SERVICE TAX-CALICUT [2020 (6) TMI 278 - CESTAT BANGALORE] and held that credit of the service tax paid on premium paid to DICGC is eligible. Appeal allowed.
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