Insurance Firm Wins CENVAT Credit on Re-insurance Services, Following High Court Precedent Under CENVAT Credit Rules, 2004.

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....CENVAT Credit - input service or not - re-insurance being pooled through a mechanism provided by IRDA - respondent who is an insurance company, had been depositing its service tax on the amount of insurance premium - In case of PNB Metlife, which judgment has been accepted by the department, the High Court has held that the service tax paid on re-insurance would be allowable as input service under the CENVAT Credit Rules, 2004 - Credit allowed - HC....