Cevat credit on bank charges
This query is : Resolved
02 October 2012
Dear Sir,
We are pvt ltd manufacturing company, Our bank is charge us various charges ( Lc opening charges, commitment & usence charges, loan processing fees, rtgs charges etc)with service tax. my question is can we avail cenvat credit on this bank charges
We are pvt ltd manufacturing company, Our bank is charge us various charges ( Lc opening charges, commitment & usence charges, loan processing fees, rtgs charges etc)with service tax. my question is can we avail cenvat credit on this bank charges
02 October 2012
Yes, you can claim CENVAT on all type of bank charges
08 October 2012
Yes you can take credit but make sure that if you are capitalising these expenses then credit available at the rate of 50%+50%
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