https://www.taxtmi.com/caselaws?id=762240 Compulsory deposit insurance premium paid by banks to DICGC is treated as an input service for Cenvat credit because the payment is mandatory, directly connected with banking operations, and integral to the provision of output services; credit is therefore admissible. Where credit was taken before revised invoices were issued, no substantive violation was established on the facts, and no interest liability arose. The note emphasises that a mandatory statutory expense forming part of the banking service chain can satisfy the nexus requirement under the credit scheme, provided no disqualifying irregularity is shown. en-us Mon, 25 Nov 2024 00:00:00 +0530 Wed, 27 Nov 2024 12:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762240 Compulsory deposit insurance premium paid by banks to DICGC is treated as an input service for Cenvat credit because the payment is mandatory, directly connected with banking operations, and integral to the provision of output services; credit is therefore admissible. Where credit was taken before revised invoices were issued, no substantive violation was established on the facts, and no interest liability arose. The note emphasises that a mandatory statutory expense forming part of the banking service chain can satisfy the nexus requirement under the credit scheme, provided no disqualifying irregularity is shown. Case-Laws Service Tax Mon, 25 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762240