https://www.taxtmi.com/caselaws?id=755781 The Tribunal ruled in favor of the appellants, allowing banks to avail Cenvat Credit for Service Tax paid to the Deposit Insurance and Credit Guarantee Corporation (DICGC) for insurance services. The decision, aligned with the Larger Bench's ruling in the South Indian Bank case, establishes that such services qualify as "input service." Consequently, the impugned orders were set aside, and the appeals were allowed, affirming banks' eligibility to claim Cenvat Credit for these services. The judgment provides clarity and consistency, reinforcing the precedent set by the Larger Bench and upheld by various High Courts. en-us Tue, 16 Jul 2024 00:00:00 +0530 Thu, 18 Jul 2024 16:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755781 The Tribunal ruled in favor of the appellants, allowing banks to avail Cenvat Credit for Service Tax paid to the Deposit Insurance and Credit Guarantee Corporation (DICGC) for insurance services. The decision, aligned with the Larger Bench's ruling in the South Indian Bank case, establishes that such services qualify as "input service." Consequently, the impugned orders were set aside, and the appeals were allowed, affirming banks' eligibility to claim Cenvat Credit for these services. The judgment provides clarity and consistency, reinforcing the precedent set by the Larger Bench and upheld by various High Courts. Case-Laws Service Tax Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755781