Service tax

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This query is : Resolved

Sanjit Roy (Querist)

01 April 2015 Dear Sir,
I am working in a pvt ltd co. whose business is a C&FA business.
we We take insurance policies to cover the risk of fire,stock,plant & machinery,vehicles etc.

1)The service tax paid on insurance premium to general insurance company can be available as input credit.
2)can we take credit of service tax against audit fees.
3)we filled the submit service tax return online for the period apr-12 to oct-12 but forgot to submit online,so status is showing save mode,in the meanwhile we submitted the hard copy to the department.
But now department is asking for penalty,can it be justified.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

01 April 2015 1. yes since it is paid for your business purpose.
2.yes

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)

01 April 2015 3. Penalty has to be paid since the return was not submitted within due date. Can not be justified just because you forgotten to submit. Unless submitted return is not complete.

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