2020 (11) TMI 843

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..... r. Sriram Sridharan, learned counsel for the appellant. 2. On our request Mr. Pradeep S. Jetly, learned senior counsel assisted by Mr. J. B. Mishra, learned counsel has appeared for the respondent. 3. This appeal under section 35-G of the Central Excise Act, 1944 has been preferred against the order dated 12.02.2019 passed by the Customs, Excise and Service Tax Appellate Tribunal, West Zonal Ben .....

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..... eposit 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 .....

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..... Deposit Insurance Corporation to the banks is an "input service" and CENVAT credit of service tax paid for this service received by the banks from the Deposit Insurance Corporation can be availed by the banks for rendering 'output services'." 12. In view of the decision rendered by the larger Bench of CESTAT, the impugned order dated 12.02.2019 cannot be sustained and the same is accordingly set .....

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