Cenvat credit on free service with other paid service
This query is : Resolved
18 November 2011
My company had purchased a machine and given Carriage/Transporting the same at site. The transporter charged 4,00,000, the have provided Transit & Fire (ONE YEAR) Insurance of 70,000 as Free on cost and also the same is not mentioned in Tpt. Bill. The Insurance Cover/Policy/premium receipt shows Service Tax charged by the Insurer Company. We had not paid any single paisa separately for such Insurance but entire 4 Lacs paid against transport bill.
Please advice:-
1. whether we can avail the Cenvat credit for Service tax liability ?
2. Should the cost of Machine should be reduced by such free insurance value ?
Please advice:-
1. whether we can avail the Cenvat credit for Service tax liability ?
2. Should the cost of Machine should be reduced by such free insurance value ?
22 November 2011
Any Service tax paid on input service can be taken as credit on the condition that should be mentioned in the Bill.
02 December 2011
Thank you for your good advice.
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
- Treatment of Pension ?annuity returns on PMVY
- Soyabean hsn code and gst rate
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- NON- SUBMISSION OF LLP FORM 3
- Free lancer income
- TDS related Query_Liquidated Damages
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- What is provisional receipt number for generation of form 16A
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
