Relief to Indian Overseas Bank: CESTAT allows Cenvat Credit of the Service Tax paid on Deposit Insurance Service [Read Order]

Indian Overseas Bank - CESTAT - Cenvat Credit - Service Tax - Insurance Service - taxscan

In a ruling in favour of M/s Indian Overseas Bank, the Customs, Excise and Service Tax Appellate Tribunal (CESTAT), Chennai bench has held that cenvat credit is allowable on the Service Tax paid on deposit insurance service provided by Deposit Insurance and Credit Guarantee Corporation (DICGC) The appellant-bank had wrongly availed CENVAT Credit in respect…

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