Cenvat Credit Reversal Overturned: Banking and Financial Services Deemed Essential for Business Operations, Eligible for Credit.

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....Reversal of Cenvat Credit - Input Services - the learned Commissioner has erred in holding that banking and financial services, credit rating services are not used for providing output services; such services are required to raise funds, which is essential to carry out the business of the appellant and hence the same is held to be eligible service.....