JAGANATHAN R ACMA, SAP(Fi-Co) (Manager Accounts and Finance) (915 Points)
31 July 2015our company paid the Insurance , Bank charges, telephone bill include the service tax.,
that service tax is it eligible for credit
Harshal Fifadra
(Chartered Accountant)
(1489 Points)
Replied 02 August 2015
Dear Jaganathan R
The input credit in respect of service tax paid on insurance charges, bank charges, telephone charges shall be available to the comapny.
It must be noted that the insurance must not be related to the insurances for employees since such input credit is not allowed to be availed as per the Cenvat Credit Rules, 2004.
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