Please Help: CENVAT CREDIT
Posted Date : 09-Jul-2011 , 10:35:59 am | Posted By CA VIPIN GARG
Will credit of service tax be allowed on Insurance of Machinery after the amendment came in Budget. Please clarify at the earliest with proper reference or supporting, its very urgent plssssssss
Category : Service Tax | Answers : 1 | Comments : 5 | Hits : 669
Answers
Answer By: CA VIKAS JAIN
yes input service tax will be allowed
Comments
Saurabh Mittal
09-Jul-2011 , 01:47:40 pmif it cover under the definition of input service for output than its allowed as cenvat credit. insurance of machinery treated as cost of machinery and so cenvat credit is allowed if it become an input service for services rendered or manufacturing of excisable goods.
CA VIPIN GARG
09-Jul-2011 , 04:10:44 pmDear Mittal Ji, first of all thanks for replying but i still not yet sure what you wants to advise finally. I just want to know whether we can avail the credit or not in the above case. The concern is a manufacturing concern which manufactures glass bottles. Hope for an early reply ...........
Saurabh Mittal
09-Jul-2011 , 06:56:38 pmmy dear sir, in this case credit is available.
Saurabh Mittal
09-Jul-2011 , 07:02:30 pmbut is machinery is used for making exempted finished goods than credit is not available.
CA VIPIN GARG
11-Jul-2011 , 12:42:01 pmThanks Mittal Ji.........