https://www.taxtmi.com/caselaws?id=460146 The court determined that banks are entitled to avail CENVAT credit for the service tax paid on insurance services provided by the Deposit Insurance Corporation. The court reaffirmed the Larger Bench's interpretation, emphasizing that these insurance services are integral to banking operations and necessary for statutory compliance. The decision aligned with prior judgments from the Larger Bench and the Kerala HC, clarifying that such services qualify as "input services" under CENVAT credit rules, thereby allowing banks to claim the credit for rendering "output services." The court dismissed the revenue's arguments against this interpretation. en-us Fri, 22 Nov 2024 00:00:00 +0530 Fri, 10 Jan 2025 15:46:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460146 The court determined that banks are entitled to avail CENVAT credit for the service tax paid on insurance services provided by the Deposit Insurance Corporation. The court reaffirmed the Larger Bench's interpretation, emphasizing that these insurance services are integral to banking operations and necessary for statutory compliance. The decision aligned with prior judgments from the Larger Bench and the Kerala HC, clarifying that such services qualify as "input services" under CENVAT credit rules, thereby allowing banks to claim the credit for rendering "output services." The court dismissed the revenue's arguments against this interpretation. Case-Laws Central Excise Fri, 22 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460146