2024 (7) TMI 1001

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....it Guarantee Corporation ('DICGC') to them for insuring the deposits of the public with them by considering it as an 'input service'? 2. For ease of reference, the dates along with their relevance in both the appeals, are produced hereinunder in the tabulated form : Subject Appeal No. Appeal No.   ST/86237/2015 ST/85977/2016 Period of dispute  June 2012 to December 2013 January 2014 to March 2015 Show-cause notice 27.05.2014 17.02.2015 & 24.09.2015 Order-in-Original 13.05.2015 29.01.2016 Denial of Cenvat Credit confirmed in the order -in- original Rs.30,10,85,994/- Rs.19,52,05,647/- Demand of interest u/s. 75 of the FA,1994 u/s. 75 of the FA, 1994 Penalty imposed Rs. 3,00,00,000 u/r 15(1) of CCR,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Hon'ble High Court of Karnataka in the matter of Commissioner vs. PNB Metlife India Insurance Co. Ltd.; 2015 (39) STR 561 (Kar). After examining, the Larger Bench of the Tribunal in South Indian Bank (supra) observed that the service rendered by the Deposit Insurance and Credit Guarantee Corporation to the banks would fall in the main part of the definition in 'input service', which is any service used by a provider of output service for providing an output service and so once this falls in the main definition of input service it would not be necessary to examine whether the service would be covered by the inclusive part of the definition. The Larger Bench also observed that the aforesaid service was not excluded from the definition of....