9911796707
TMI Blog2022 (8) TMI 705X X X X Extracts X X X X X X X X Extracts X X X X ..... holding 'since no exempt service has been provided by the appellant, there is no application of Rule 6 of the Credit Rules in the instant case to deny the credit', when non-taxable investment portion was duly mentioned in the policy document itself? b) Whether the CESTAT was right in placing reliance on the Principal bench CESTAT-Delhi Order No. A/50608-50609/2018 dated 08.02.2018 in the case of Max New York Life Insurance Company Lt. Vs. CCE & ST (LTU) 2018 (363) ELT 1145 (Tri-Del) c) Whether the CESTAT was right in setting aside the Order and allowing their appeal? 2. Heard Smt. K.R. Vanitha, learned advocate for the appellant and Shri P.B. Harish, learned advocate for the respondent. 3. Brief facts of the case are, assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bmitted that similar issues are pending consideration in Bombay High Court. She further submitted that the Commissioner of Central Excise, Bengaluru, has rightly analysed the case and imposed tax, interest and penalty on the ground that service tax was wrongly availed by the assessee. 5. Shri P.B.Harish, learned advocate for the assessee submitted that Sub-rule 5 of Rule 6 of the CENVAT Credit Rules has been omitted with effect from 16.05.2008, as per Notification F No.354/9/2011-TRU issued by the Ministry of Finance, Department of Revenue and full credit will be available for services specified in Rule 6(5) of the Rules including Sub Clause (zy) of Section 65(105) of the Finance Act, 1994, namely, Insurance Auxiliary Services for the peri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) "taxable service" (a) (b) xxxxx (zy) to a policy holder or any person or insurer, including re-insurer by an actuary, or intermediary or insurance intermediary or insurance agent, in relation to insurance auxiliary services concerning life insurance business." 10. It is not in dispute that services provided by the assessee is insurance auxiliary services concerning life insurance. Any service under this category is covered by Sub-rule (5) of Rule 6 of CENVAT Rules. CESTAT has rightly analysed the position and following the decision of CESTAT of Delhi in Max New York Life Insurance Co.Ltd. Vs. CCE & ST (LTU) 2018 (363) ELT 1145 (Tri-Del) has held that since no exempt service has been provided by the assessee, it is entitled for th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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