2024-VIL-133-CESTAT-BLR-ST
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SERVICE TAX CESTAT Cases

Service Tax – Insurance Service – Cenvat Credit - In terms of Tripartite agreement the Insurance Company issued master insurance policy to the appellant and appellant in turn issues subsidiary policy to its customers - Eligibility of CENVAT credit of service tax paid towards issue of master insurance policies – the impugned order held that service in relation to insurance of the gold belonging to the customers of the appellant is not eligible as input service, hence, Cenvat credit is inadmissible - HELD – The issue in present appeals is similar to the issue considered by Larger bench in the matter of M/s South Indian Bank and it was held that insurance service provided by the Deposit Insurance Corporation to the banks is an “input service” and Cenvat credit of service tax paid for this service received by the banks from the Deposit Insurance Corporation can be availed by the banks for rendering ‘output services’ - Similarly in the matter of PNB Metlife India Insurance Co. Ltd. the Karnataka High Court held issuance of insurance policy by insurer, and then taking of reinsurance by it, is a continuous process and it cannot be said that the same would not be an ‘input service’ eligible for Cenvat credit - Regarding finding of the Adjudicating authority denying the benefit on the ground that the document produced by the appellant are without proper serial number, it is held any document by whatever named called would be used in the place of an invoice, bill or challan. Thus, the reason given by the Adjudicating authority for such finding is per se illegal and unsustainable - Cenvat credit on the service tax paid by the Insurance Company on the premium paid by the appellant cannot be denied and has to be considered as input service received from the Insurance Company – the impugned order is set aside and appeal is allowed
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