CESTAT Chennai Orders Service Tax Refund for Marine Insurance, Rejects Adjournment

The Appellate Tribunal CESTAT CHENNAI rejected an adjournment request and ordered a refund of Service Tax paid on a Marine Insurance Policy, finding the denial of credit by Revenue unreasonable as insurance is crucial for export protection.

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The Appellate Tribunal CESTAT CHENNAI rejected an adjournment request in a case where the appellant availed Marine Insurance Policy Service and paid Service Tax of Rs. 11,60,568. The credit of Service Tax paid on the insurance was denied by Revenue. The Tribunal found the denial unreasonable as insurance is integral to export to protect property, and ordered a refund of the Service Tax paid on the policy.

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