Refund granted to DICGC as premium paid by bank considered as inclusive of tax

Commissioner Of CGST & Central Excise Vs Deposit Insurance & Credit Guarantee Corporation (CESTAT Mumbai) CESTAT Mumbai allowed the refund claim filed by Deposit Insurance and Credit Guarantee Corporations (DICGC) by considering premium amount paid by bank as inclusive of tax. Facts- The respondent, as a wholly owned subsidiary of Reserve Bank of India was established as the insurer of banks to protect constituents of each bank from ‘run on their money’ for which banks pay a premium. This appeal of Commissioner of CGST & Central Excise, Mumbai Central arises from the setting as...