https://www.taxtmi.com/caselaws?id=764613 The Tribunal, supported by the Kerala HC, concluded that insurance services provided by the Deposit Insurance and Credit Guarantee Corporation to banks qualify as "input services" under the CENVAT Credit Rules. Consequently, banks are entitled to avail CENVAT Credit for the service tax paid on these insurance services, as they are integral to their business operations. The Tribunal rejected the argument that these services fall within the negative list under Section 66D of the Finance Act, affirming that they are essential for the banks' provision of output services and not merely financial transactions. en-us Mon, 06 Jan 2025 00:00:00 +0530 Tue, 14 Jan 2025 14:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764613 The Tribunal, supported by the Kerala HC, concluded that insurance services provided by the Deposit Insurance and Credit Guarantee Corporation to banks qualify as "input services" under the CENVAT Credit Rules. Consequently, banks are entitled to avail CENVAT Credit for the service tax paid on these insurance services, as they are integral to their business operations. The Tribunal rejected the argument that these services fall within the negative list under Section 66D of the Finance Act, affirming that they are essential for the banks' provision of output services and not merely financial transactions. Case-Laws Service Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764613