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The services rendered by an insurance agent, duly licensed u/s 42 of the Insurance Act for general insurance businesses, are taxable as "insurance auxiliary services". Absent such license, a person cannot be treated as an insurance agent for "insurance auxiliary services". The appellant correctly discharged service tax on "business support services" for infrastructural support services provided by the Bank, not liable under Reverse Charge Mechanism. The demand under this head cannot be sustained. CENVAT credit on group health insurance for employees is allowed, following Larger Bench decision. No short accounting of insurance premium found based on audited trial balance. The impugned order confirming demands of service tax on insurance auxiliary service, short premium accounting, and denying CENVAT credit cannot be sustained. The appeal is allowed, setting aside the Commissioner's order.
The services rendered by an insurance agent, duly licensed u/s 42 of the Insurance Act for general insurance businesses, are taxable as "insurance auxiliary services". Absent such license, a person cannot be treated as an insurance agent for "insurance auxiliary services". The appellant correctly discharged service tax on "business support services" for infrastructural support services provided by the Bank, not liable under Reverse Charge Mechanism. The demand under this head cannot be sustained. CENVAT credit on group health insurance for employees is allowed, following Larger Bench decision. No short accounting of insurance premium found based on audited trial balance. The impugned order confirming demands of service tax on insurance auxiliary service, short premium accounting, and denying CENVAT credit cannot be sustained. The appeal is allowed, setting aside the Commissioner's order.
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