Input credit service tax

This query is : Resolved

VIVEK CHOUKSEY (Querist)
Follow

06 November 2012 We are an Indian Subsidiary Of Japanese company, and we do import machines from japan and sell it here.

here the query is that we pay to them in jpy that is japanese currency , and in this regard bank charge us service tax also in lieu of conversion of currecy and pay to them......my question is that wheather we can take input tax credit of that service tax which bank has charged in lieu of conversion of currency??

A Answer with relevant secion is highly appreciated!

CA CS Amit S. Kedia

CA CS Amit S. Kedia (Expert)
Follow

06 November 2012 Yes... You can take the credit of input service on bank charges.

CA Ayush Agarwal

CA Ayush Agarwal (Expert)
Follow

06 November 2012 Any service used by provider of taxable service for providing output service, Only That Input Can be taken.

Well, Specifically Financial services is not Included in Input Service definition.
Accounting , auditing, financing, recruitment and quality control Can be Related with Your Service.

But Before Taking Input, Be ready to Prove The Corelation Between input & Output Service.in front of Deprtment.

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

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

mahendra zaveri

sachingurav

velichety.l.narasimharao

Mukund Thakur

shubham agrawal

Subscribe Now

Input credit service tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANT

GST CONSULTANCY

Accountant

Senior Executive

Manager- Finance and Compliance