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TMI Blog2022 (6) TMI 539X X X X Extracts X X X X X X X X Extracts X X X X ..... DIAN BANK VERSUS THE COMMISSIONER OF CUSTOMS, CENTRAL EXCISE AND SERVICE TAX-CALICUT [ 2020 (6) TMI 278 - CESTAT BANGALORE] wherein it was held that insurance service provided by DICGC to the banks is an input service and the credit of Service Tax is eligible - In the appellant s own case M/S. INDIAN OVERSEAS BANK VERSUS COMMISSIONER OF CCE AND ST, CHENNAI [ 2021 (1) TMI 754 - CESTAT CHENNAI] , t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, they are heard together and are disposed of by this common order. 2. Brief facts are that on the basis of intelligence received that the appellant-bank had wrongly availed CENVAT Credit in respect of the Service Tax paid on deposit insurance service provided by Deposit Insurance and Credit Guarantee Corporation (hereinafter referred to as DICGC ), investigation was initiated by the Kochi Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d and argued on behalf of the appellants. She submitted that the question involved is whether the appellant-bank can avail credit of the Service Tax on the deposit insurance service provided by DICGC. She explained that DICGC is a subsidiary of the Reserve Bank of India and has been set up under the Deposit Insurance and Credit Guarantee Corporation Act, 1961 ( DICGC Act for short) for insuring d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cise and Service Tax, Calicut reported in 2020 (41) G.S.T.L. 609 (Tribunal L.B.) . Further, that the Tribunal, in the appellant s own case as reported in 2021 (1) T.M.I. 754 CESTAT, Chennai, has followed the above decision of the Larger Bench to hold that such services qualified as input service and the credit of the Service Tax paid on such services is eligible. 5. Ms. K. Komathi, L ..... X X X X Extracts X X X X X X X X Extracts X X X X
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