Input tax credit
This query is : Resolved
14 November 2011
Is input service tax paid on car insurance is available from output service tax liability as input tax credit?
14 November 2011
ONLY THAT INPUT WILL BE APPLICABLE FOR SET WITH OUTPUT WHICH SERVICE ARE DIRECTLY OR INDIRECLTYL CONCERNED WITH OUTPUT SERVICE .
20 November 2011
List of Services Specified Under Rule 2 (l)(ii)(B) of CENVAT credit rules, 2004
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)]
So you should check in which category u fall and accordingly decide whether to take credit or not.
If u r satisfied by my reply then say thanks by clicking on "THANK USER".
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)]
So you should check in which category u fall and accordingly decide whether to take credit or not.
If u r satisfied by my reply then say thanks by clicking on "THANK USER".
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