cenvat credit on banking & financial services

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vijay (Querist)
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12 June 2009 Dear Sir,
Banks & other financial service providers charge service tax on bank charges & other services. Can we take cedit of service tax on such business auxillory services? Is there any time limit to avail cenvat credit on banking & financial services?

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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14 June 2009 Yes you cantake the crwedit of this service. You may take a certificate of the bank for the past years and avil the same since there is no time limit.
It is also covered in the list of 16 services where 100% credit is available for common services used for taxable and non taxable/ exempt services.

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