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TMI Blog2020 (10) TMI 300X X X X Extracts X X X X X X X X Extracts X X X X ..... een availed of by the banks for rendering output service. The issue involved is whether the banks can avail credit of this service tax paid by the banks for the service provided by the Deposit Insurance Corporation. The impugned order cannot be sustained and the same is accordingly set aside and quashed - Appeal allowed. - CENTRAL EXCISE APPEAL NO.148 OF 2019 149 OF 2019, 151 OF 2019, 155 OF 2019, 156 OF 2019, 159 OF 2019, 160 OF 2019, 167 OF 2019, 143 OF 2019 - - - Dated:- 22-9-2020 - UJJAL BHUYAN ABHAY AHUJA, JJ. Mr. Prakash Shah a/w. Mr. Prasad Paranjape i/b. PDS Legal for Appellant in CEXA Nos.148 of 2019, 149 of 2019, 151 of 2019, 155 of 2019, 156 of 2019, 159 of 2019 and 160 of 2019. Mr. Bharat R. Raichandani i/b. U ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 6. In the appeal filed by State Bank of India i.e., Central Excise Appeal No.143 of 2019, this Court had passed the following order on 29.08.2019:- 1. This appeal under Section 35G of the Central Excise Act read with Section 83 of the Finance Act, 1994 challenges the order dated 12th February, 2019 passed by the Customs, Excise and Service Tax Appellate Tribunal (the Tribunal). 2. The appellant urges the following re-framed substantial questions of law for our consideration :- (a) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in holding that the appellant is not entitled to avail of Cenvat credit of service tax paid on the insurance premium to ensure the deposits of its ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... submitted that the impugned order be set aside and the appeal of the appellant before the Tribunal be listed along with the other matters referred to the larger bench for fresh decision on merits. 5. Mr. Jetly, learned Counsel appearing for the Revenue submits that the impugned order dated 12th February, 2019 of the Tribunal has been challenged by the Revenue to the extent it has not imposed any penalty upon the appellant. Mr. Jelty, states that the appeal has been filed and the objections of the Registry are to be removed. Mr. Jetly, further undertakes to remove the objections within one week, so the Revenue s appeal as well as the appellants appeal could be heard together. This appeal along with the Revenue s appeal, particulars of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e would make an appropriate application to the Tribunal for early hearing of the Reference made to the larger bench in the above two cases. The assessee before us are free to join the Revenue in such an application before the Tribunal. This adjournment is granted so as to enable the parties to place on record the view of the larger bench on the issue arising in the present Appeals. Stand over to 18th December, 2019. 8. Today the appeals have been taken up for consideration on praecipe being filed by learned counsel for the appellants. It is submitted that the larger Bench of CESTAT has answered the above issue in favour of the appellants i.e., the banks and therefore, the appeals may be allowed by setting aside the impugned order. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r is the correct view and the contrary view taken in ICICI Bank Limited is not acceptable. The reference has accordingly been answered in the following terms:- The 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 . 12. In view of the decision rendered by the larger Bench of CESTAT, the impugned order dated 12.02.2019 cannot be sustained and the same is accordingly set aside and quashed. All the appeals are remanded back to the CESTAT for fresh decision in conformity with the decision rendered by the larger ben ..... X X X X Extracts X X X X X X X X Extracts X X X X
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