Karnataka HC Upholds CENVAT Credit on Deposit Insurance Premium

Commissioner of Central Excise And Service Tax Vs Corporation Bank (Karnataka High Court) In Commissioner of Central Excise And Service Tax Vs Corporation Bank, the Karnataka High Court dismissed multiple appeals filed by the Revenue concerning the eligibility of banks to avail CENVAT credit on service tax paid towards deposit insurance premium to the Deposit Insurance and Credit Guarantee Corporation (DICGC). The Court held that the issues raised were already settled by earlier judgments of the Kerala High Court and the Bombay High Court. The appeals raised common questions of law relating to...