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
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- LC charges in relation to Asset purchased should be Capitalised ?
- Copyright software
- Value of property in capital gain
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- Regarding TDS Applicability For Director Remuneration
- Transporter Declaration form
- Multiple trade mark
- Sale Incentive booking
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
