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Service Tax paid on Banking Services

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(Querist)
04 May 2011 While making outward remittance bank is charging Service Tax under the category of Service - Banking & Financial Services.
My question is, can we utilise the same as input credit for Service Tax paid to bank.
Please help me in this matter.
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Madhukar N Hiregange

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Madhukar N Hiregange (Expert)
04 May 2011 Yes eligible under the earlier and present provisions of cenvat credit.
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RAM SAINI

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RAM SAINI (Expert)
04 May 2011 yes u can utilise the same as input credit for Service Tax paid to bank.



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Nayan Das

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Nayan Das (Expert)
04 May 2011 I WILL AGREE WITH TWO ABOVE REPLY

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