https://www.taxtmi.com/caselaws?id=762240 Deposit insurance premiums paid by banks to DICGC constitute an input service for Cenvat credit where compulsory registration and premium payment are integral to continuing banking operations and have a direct nexus with banking and financial output services. The premium is not excluded from the credit scheme, supporting admissibility of service tax credit. Credit taken before revised invoices were issued does not breach credit-taking conditions where the premium was paid and the invoices were subsequently corrected to reflect relevant dates. No substantive irregularity, interest liability, demand or penalty arises on those facts. 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 Deposit insurance premiums paid by banks to DICGC constitute an input service for Cenvat credit where compulsory registration and premium payment are integral to continuing banking operations and have a direct nexus with banking and financial output services. The premium is not excluded from the credit scheme, supporting admissibility of service tax credit. Credit taken before revised invoices were issued does not breach credit-taking conditions where the premium was paid and the invoices were subsequently corrected to reflect relevant dates. No substantive irregularity, interest liability, demand or penalty arises on those facts. Case-Laws Service Tax Mon, 25 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762240