Cenvat credit
This query is : Resolved
05 September 2011
Dear Members,
service tax paid in General insurance service related to motor vehicle is not allowed since April'2011 as per changes made in last budget.
But can a dealer take such credit if he insure his stock (motore vehicle).
service tax paid in General insurance service related to motor vehicle is not allowed since April'2011 as per changes made in last budget.
But can a dealer take such credit if he insure his stock (motore vehicle).
10 September 2011
for a dealer the vehicles are not "motor vehicle" but its "stock in trade" where the registration is not done under motor vehicle act by respective RTO.
so the block of unregistered vehicles kept in dealers premises can get insured as "stock in trade" and service tax component is available for input credit.
so the block of unregistered vehicles kept in dealers premises can get insured as "stock in trade" and service tax component is available for input credit.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING ITR FILING QUESTION
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
