https://www.taxtmi.com/caselaws?id=764086 Mandatory deposit insurance premium paid by a bank under the statutory deposit insurance regime qualified as an input service because it was commercially expedient and integral to carrying on banking operations and providing taxable output services. The service was used by the provider of output service for providing such output service, bringing it within the main part of the input service definition. Since it was not shown to fall within any exclusion, CENVAT credit on the service tax paid on the premium was admissible. The demands, interest, and penalties were therefore unsustainable, and the adjudication orders were set aside with consequential relief. en-us Thu, 02 Jan 2025 00:00:00 +0530 Fri, 03 Jan 2025 08:45:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764086 Mandatory deposit insurance premium paid by a bank under the statutory deposit insurance regime qualified as an input service because it was commercially expedient and integral to carrying on banking operations and providing taxable output services. The service was used by the provider of output service for providing such output service, bringing it within the main part of the input service definition. Since it was not shown to fall within any exclusion, CENVAT credit on the service tax paid on the premium was admissible. The demands, interest, and penalties were therefore unsustainable, and the adjudication orders were set aside with consequential relief. Case-Laws Service Tax Thu, 02 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764086