CENEX UPDATE – 16.10.2020

CX - Rebate of duty paid on exported goods - As per proviso to Section 35B(1), the Tribunal is not vested with jurisdiction to hear cases pertaining to rebate of duty: CESTAT

ST - Insurance service provided to banks by Deposit Insurance Corporation, qualifies as input service - CENVAT credit can be availed of service tax paid by banks for such service provided to them in course of rendering output services: CESTAT

Cus - There is no reasoning given for adoption of revised values and the Rules under which the same is arrived at - This certainly amounts to violation of principles of natural justice: CESTAT