Bank Guarantee Charges for Raw Material Procurement Covered Under Input Service u/r 2(l): CESTAT allows Bajaj’s CENVAT Claim

The CESTAT has allowed Bajaj's CENVAT claim, ruling that bank guarantee charges for raw material procurement are covered under input services under Rule 2(l). This decision clarifies the eligibility for CENVAT credit in such scenarios. The ruling provides relief to the company and ensures compliance with tax regulations. The judgment supports the industry's position on CENVAT credit.