Cenvat credit of service tax

This query is : Resolved

Ankit Dangayach (Querist)
Follow

16 October 2008 Whether a company engaged in the business of consumer finance (Giving retail loans)can claim Cenvat credit in respect of service tax paid on Brokerage on sale of shares of other company on the stock exchange.So whether such brokerage comes within the definition of Input service as defined under Cenvat Credit Rules 2004.

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
Follow

16 October 2008 In my opinion, Cenvat credit of service tax paid on input service can be utilised if such input service is used in or in relation to the output service provided.

Here, in ur case, since there is no relation between brokerage service and consumer finance service,i believe it is not possible to claim the credit

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

16 October 2008 I also support the view of Mr. Shailesh.

Taxguy

Taxguy (Expert)
Follow

16 October 2008

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

HITESH NIRANJAN SAHU

REGIWISE CONSULTANTS PVT LTD

R M Shekhaliya

CA Aakarsh Jain

SUMAN SAHA

Subscribe Now

Cenvat credit of service tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA