https://www.taxtmi.com/caselaws?id=250348 CENVAT credit of service tax paid on reinsurance received from overseas companies was held admissible as input service because reinsurance was treated as a statutory requirement under the Insurance Act, 1938 and as directly connected with the insurer's business. The tribunal found that reinsuring part of the risk had a clear nexus with the output service of providing insurance to customers, and that the reinsurer rendered service to the insurance company. The view that reinsurance arises only after insurance business is effected was rejected, and the impugned order was set aside. en-us Wed, 07 May 2014 00:00:00 +0530 Mon, 19 Jan 2015 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250348 CENVAT credit of service tax paid on reinsurance received from overseas companies was held admissible as input service because reinsurance was treated as a statutory requirement under the Insurance Act, 1938 and as directly connected with the insurer's business. The tribunal found that reinsuring part of the risk had a clear nexus with the output service of providing insurance to customers, and that the reinsurer rendered service to the insurance company. The view that reinsurance arises only after insurance business is effected was rejected, and the impugned order was set aside. Case-Laws Service Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250348