https://www.taxtmi.com/caselaws?id=310967 The Kerala HC dismissed the revenue's appeal regarding CENVAT credit on services from Deposit Insurance Credit Guarantee Corporation. The court held that insurance services provided by DICGC to banks constitute input services as banks are statutorily obligated to insure public deposits for conducting banking business. The court found relatability between services availed and services rendered in banking operations. Following the larger bench decision in South Indian Bank case, the court confirmed that service tax paid on deposit insurance premiums qualifies for CENVAT credit as input service for banks' output services. en-us Mon, 05 Dec 2022 00:00:00 +0530 Wed, 29 Nov 2023 06:08:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310967 The Kerala HC dismissed the revenue's appeal regarding CENVAT credit on services from Deposit Insurance Credit Guarantee Corporation. The court held that insurance services provided by DICGC to banks constitute input services as banks are statutorily obligated to insure public deposits for conducting banking business. The court found relatability between services availed and services rendered in banking operations. Following the larger bench decision in South Indian Bank case, the court confirmed that service tax paid on deposit insurance premiums qualifies for CENVAT credit as input service for banks' output services. Case-Laws Central Excise Mon, 05 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310967