Cenvat credit on servicetax paid on insurance premium of car
This query is : Resolved
01 November 2012
Dear Experts,
I need your view on the following queries:
1. Can Company take CENVAT Credit on Service Tax paid on Insurance Premium paid on Motor Car?
- Both in case its owned motor car and in case it is hired from its employee.
2. Company has hired Motor Car from its emplyee and company pays rent for motor car. Now as per Reverse Charge Mechanism Company needs to pay Service Tax on rent paid on motor car as a Service receiver.
Now Can company take CENVAT Credit paid on such rent paid on motor car hired from employee?
Regards,
CS Samiksha Kansara
I need your view on the following queries:
1. Can Company take CENVAT Credit on Service Tax paid on Insurance Premium paid on Motor Car?
- Both in case its owned motor car and in case it is hired from its employee.
2. Company has hired Motor Car from its emplyee and company pays rent for motor car. Now as per Reverse Charge Mechanism Company needs to pay Service Tax on rent paid on motor car as a Service receiver.
Now Can company take CENVAT Credit paid on such rent paid on motor car hired from employee?
Regards,
CS Samiksha Kansara
01 November 2012
1. No cenvat credit available for Tax paid on Insurance premium in both cases.
2. No Cenvat available as per new rules
2. No Cenvat available as per new rules
Message likes :
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02 November 2012
Thank you Sahil...
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