2021 (2) TMI 662

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..... shra for the Respondent ORDER P.C.: Heard Mr. Sridharan, learned senior counsel for the petitioner and Mr. Jetly, learned senior counsel for the respondents. 2. This appeal under section 35G of the Central Excise Act, 1944 has been preferred against the order dated 12.02.2019 passed by the Customs, Excise and Service Tax Appellate Tribunal, West Zonal Bench, Mumbai (CESTAT) in Appeal No. ST/86 .....

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..... t Guarantee Corporation to the banks for insuring the deposits of the public with the banks has been considered by the banks to be an input service and CENVAT credit for service tax paid by the banks for this service has been 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 .....

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..... n 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 .....

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