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Cevat credit on bank charges

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(Querist)
02 October 2012 Dear Sir,

We are pvt ltd manufacturing company, Our bank is charge us various charges ( Lc opening charges, commitment & usence charges, loan processing fees, rtgs charges etc)with service tax. my question is can we avail cenvat credit on this bank charges
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CA Suresh Jain

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CA Suresh Jain (Expert)
02 October 2012 Yes, you can claim CENVAT on all type of bank charges
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CA Pradeep Kumar Rajput

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CA Pradeep Kumar Rajput (Expert)
08 October 2012 Yes you can take credit but make sure that if you are capitalising these expenses then credit available at the rate of 50%+50%




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