Delhi HC sustains Existing Allocation of Bullion TRQ Post-Review Meeting of UAE-India CEPA

CESTAT Grants Relief to Citizen Credit Co-op Bank: Cenvat Credit Allowed on DICGC Insurance Premium as Input Service in Banking Operations The CESTAT granted relief to Citizen Credit Co-operative Bank by allowing it to claim Cenvat credit on the premium paid for DICGC (Deposit Insurance and Credit Guarantee Corporation) insurance. The Tribunal recognized that this premium is an input service necessary for banking operations. The bank had argued that the premium payment should qualify for credit under the Cenvat scheme as it is an essential part of the financial services it provides. This ruling highlights the evolving interpretation of input services and emphasizes the importance of ensuring that critical services in business operations can be claimed for tax benefits.