Cenvat - banking and financial

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2012 dear experts can any bank providing secices under banking and financial servises head take banefit against paid service tax on services used for output service like as telephone bill, rent, service tax on software cost which is using in bank, postal or courier, and also on any freight paid on purchase of capital asset or on any other services which are using for provide output other banking services under above head

CA Suresh Jain

CA Suresh Jain (Expert)
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26 September 2012 Input credit is available for service tax paid on any service received by the bank including the services mentioned by you. The CENVAT credit is also available against the service tax paid under reverse charge mechanism

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