Service tax on insuarance of vehicles
This query is : Resolved
25 April 2012
Whether service tax on insuarance of four wheeler (TATA ACE) is eligible for cenvat credit for manufacturing industry or not ?
I think it will not be covered in definition of input service
I think it will not be covered in definition of input service
26 April 2012
Hi Neeraj
As per the amended definition of the term Input service, some services are excluded from the definition of input services which also excludes general insurance service availed on motor vehicle except when such vehicle are capital goods within the meaning of capital goods.
So, only those manufacture can take CENVAT credit who has classified motor vehicle as Capital goods for Indirect tax purpose.
As per the amended definition of the term Input service, some services are excluded from the definition of input services which also excludes general insurance service availed on motor vehicle except when such vehicle are capital goods within the meaning of capital goods.
So, only those manufacture can take CENVAT credit who has classified motor vehicle as Capital goods for Indirect tax purpose.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Section 50-fixed asset-->building ceases to exist
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- Putting a heading on received mail
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
