Input tax credit

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Querist : Anonymous

Querist : Anonymous (Querist)

14 November 2011 Is input service tax paid on car insurance is available from output service tax liability as in input tax credit?

PUNEET GOYAL

PUNEET GOYAL (Expert)
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14 November 2011

List of Services Specified Under Rule 2 (l)(ii)(B)
1. General Insurance Business Services[65 (105) (d)]
2. Rent-a-Cab Scheme Operator Services [65(105)(o)]
3. Authorised Service Station Services [65(105)(zo)]
4. Supply of Tangible Goods Services [65(105)(zzzzj)]
If the above services are used in respect of motor vehicle by any service provider then they shall not be included in the definition of input services and accordingly CENVAT credit shall not be taken. However, if the above services are used by the following service provider in respect of motor vehicle then they shall be included in the definition of input service and accordingly CENVAT credit shall be taken:
1. Courier AgencyServices [65 (105) (f)]
2. Tour OperatorServices [65(105)(n)]
3. Rent-a-Cab Scheme Operator Services [65(105)(o)]
4. Cargo Handling Agency Services [65(105)(zr)]
5. Goods Transport Agency Services [65(105)(zzp)]
6. Outdoor Caterer Services [65(105)(zzt)]
7. Panadal or Shamiana Contractor Services [65 (105) (zzw)]

Accordingly check that whether u have used the car insurance service for providing of above mentioned 7 services. If yes only then u can take CENVAT credit otherwise not.

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