9911796707
TMI Blog2024 (11) TMI 1410X X X X Extracts X X X X X X X X Extracts X X X X ..... VERSUS C.C.,C.E. S. T-CALICUT, C.C.E ST, MANGALORE, C.C. CE S.T, TRIVANDRUM, STATE BANK OF MYSORE [ 2020 (11) TMI 120 - CESTAT BANGALORE] and against the decision of the Division Bench of the Tribunal, the department filed an appeal before the Kerala High Court. The reference made to the Larger Bench has, therefore, to be answered in the same terms as was answered by the Larger Bench of the Tribunal in M/S. SOUTH INDIAN BANK VERSUS THE COMMISSIONER OF CUSTOMS, CENTRAL EXCISE AND SERVICE TAX-CALICUT [ 2020 (6) TMI 278 - CESTAT BANGALORE - LB] . It was held in the reference that ' 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 rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the banks for rendering output services . 3. While answering the reference, the Larger Bench took notice of the reference that has been made in this appeal by the Division Bench. 4. It needs to be noted that after the Larger Bench of the Tribunal answered the reference, a Division Bench of the Tribunal decided the appeal on 23.09.2020 and against the decision of the Division Bench of the Tribunal, the department filed an appeal before the Kerala High Court. The appeal filed by the department was dismissed by the Kerala High Court by a detailed judgment and order dated 05.12.2022, and the relevant portion of the judgment of the Kerala High Court is reproduced: 12. We have examined the view from the perspective of questions raised before ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its is a pure and simple money transaction. But the realm in which the controversy operates is after receiving the deposits from public, the assessee is under statutory obligation to insure the deposits received for conducting the bank business and extends under law services on which service tax is paid. The services provided by the assessee are not falling within the negative list. Therefore, there is relatability on a hostile consideration of business in banking between the services availed and services rendered. The suggestion of revenue would compartmentalise the activities in an odd way only to deny the claim of CENVAT credit and we are not persuaded, firstly, by the argument now canvassed before us and secondly, upon taking note of ar ..... X X X X Extracts X X X X X X X X Extracts X X X X
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