https://www.taxtmi.com/caselaws?id=762641 CESTAT Mumbai allowed appeal regarding CENVAT credit on insurance services. Appellants provided Mediclaim insurance to employees, recovering premiums from them, and claimed CENVAT credit on input services from insurance company. Revenue denied credit and imposed penalty under Rule 15(1) of CENVAT Credit Rules, 2004. CESTAT held that since appellants provided output service to employees for consideration, insurance services procured constituted admissible input services under Rule 2(1)(ii) of CCR, 2004. Tribunal relied on precedents including Ultra Tech Cement Ltd. and South Indian Bank cases. The impugned order dated 12.11.2021 was set aside and appeal allowed in favor of appellants. en-us Mon, 02 Dec 2024 00:00:00 +0530 Wed, 04 Dec 2024 11:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762641 CESTAT Mumbai allowed appeal regarding CENVAT credit on insurance services. Appellants provided Mediclaim insurance to employees, recovering premiums from them, and claimed CENVAT credit on input services from insurance company. Revenue denied credit and imposed penalty under Rule 15(1) of CENVAT Credit Rules, 2004. CESTAT held that since appellants provided output service to employees for consideration, insurance services procured constituted admissible input services under Rule 2(1)(ii) of CCR, 2004. Tribunal relied on precedents including Ultra Tech Cement Ltd. and South Indian Bank cases. The impugned order dated 12.11.2021 was set aside and appeal allowed in favor of appellants. Case-Laws Central Excise Mon, 02 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762641