Input tax credit

This query is : Resolved

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)
Follow

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.

If u are satisfied with my reply then say thanks by clicking "THANK USER".

Message likes : 4 times

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

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

JACOB ABRAHAM KURIALANICKAL

Jitin Aditya Kapur

sachidanandam

Rajesh

Amit Singh

Subscribe Now

Input tax credit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA