Input tax credit for service tax charged by bank


Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 September 2016 Dear Expert,

My query is whether service tax charged by bank for its services like forex conversion, CC/OD charges, LC charges etc are all eligible for input tax credit or there is some restrictions?

01 September 2016 You can take the cenvat credit of these input services in regards to manufacturing of final product or providing output services.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
01 September 2016 Thank you so much sir. But my colleague is differing for this saying that we have exported and received the forex. Now for conversion, bank has charged ST. This is not related to manufacturing and thus, can not be allowed for cenvat credit. Is he true?

Avatar

Expert : Anonymous

Profile Image
Expert : Anonymous (Expert)
04 September 2016 No, it is not true you are entitled to take credit.


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


CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries



CCI Pro
Meet our CAclubindia PRO Members

Follow us
add to google news



Answer Query



Company
Featured 12 March 2026
Customer Relationship Executive

TAXLET

Calicut

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 14 March 2026
Article Trainee

N N V Satish&co

Hyderabad

CA Inter

View Details
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details