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TMI Blog2016 (12) TMI 1128X X X X Extracts X X X X X X X X Extracts X X X X ..... 994 was imposed alleging that general insurance service provided by the appellant as co-insurer along with lead insurer to the insured, attracts service tax on the proportionate premium received by them along with lead insurer for providing taxable service under the category of General Insurance Service . 2. Dr. Samir Chakraborty, Senior Advocate appearing on behalf of the appellant submits that by arrangement/agreement between the lead insurer and the other insurance company including the appellant, General Insurance Policy had been provided to the client/insured on receipt of the premium and the premium so received has been proportionately shared by the co-insurer and the lead insurer in accordance with the risk covered by each one of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ontain signatures of all coinsurers totally wrong; Leviability of service tax does not depend on eligibility or otherwise of cenvat credit; Demand barred by limitation; No such dispute /demand raised for subsequent assessment periods, viz.,2010-11 & 2011-12, while finalizing provisional assessments for the said periods. Finalization Orders passed after the impugned adjudication order. Learned Senior Advocate appearing on behalf of the appellant relied upon one final Order-in-Original No.LTUC/15&16/2008 C dated 09.04.2008 passed by Commissioner, LTU Chennai where demands on the same issue were dropped and the same has been accepted by the department. He made the bench go through the relevant papers. 3. Shri K.Choudhari, Suptd. (AR) appearin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he service of co-insurance has been accepted and clarified that the said business is different from the insurance. We find that General Insurance services have been provided by a number of insurance companies under an agreement to the client/insured. The premium has been collected from the insured by the lead insurer and allocated among the insurance companies proportionate to their undertaking of the risk. In the agreement it is specifically stipulated that the lead insurer being public sector undertaking, have discharged service tax against the entire amount of premium received. 5. From the above discussions we observe that there is no separate service rendered by the lead insurer to the co-insurer or otherwise relating to insurance busi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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