Service Tax payable on Contribution to Secure Depositors Interest

Kerala Co Operative Deposit Guarantee Fund Board Vs Commissioner of Central Tax and Central Excise (CESTAT Bangalore) Collection of Contribution to Build Corpus Fund to Secure Depositors Interest liable to pay Service Tax.  Deposit Insurance Contract is also a general insurance contract as defined in law and merely because they are statutorily prescribed, they do not cease to be contract of insurance. The insurer is the Corporation, the insured are the banks and the beneficiary is the depositor(s) In view of the above, the activity of the appellant is same as that of DICGC and if DICGC is lia...