We are the manufacturer of chemicals having factories all over gujarat state. We take insurance policies to cover the risk of fire, & other statndard perils under incurance act to safeguard our Plant, Building, stocks etc.
The service tax paid on insurance premium to general insurance company can be available as set off/ credit treating it as input service.
agreed with Mr. kunal
yes cenvat credit is available
any case law rule etc. my excise officer denied the same
please give ref.
Insurance premium is a input services you, till the place of removal. If your place of removal is buyer place then you are entitled for credit. you can place relience on the judgement of CCE Guntur Vs. CCL Products (India) Ltd. 2012 (277) ELT 177 (Tri. Bang.) also on CCE Tirunelveli Vs. DCW ltd. 2011 (22) STR 214.
As per Cenvat Credit Rules, 2004 Rule 2 subrule (l) input service means any service used by provider of output service for providing an output service and includes services in relation to modernisation, renovation or repairs of factory etc upto the place of removal but excludes
So accordingly, insurance is an input service used in relation to and also it is not specifically exluded. So difinitely in our view service tax credit can be taken in respect of general insurance premium.
The Pvt Ltd Co has mortgage the property of director for Loan, & service tax paid on the insurance premium of mortgage property by company, the question is whether co can claim service tax credit on it or not?
The Pvt Ltd Co has mortgage the property of director for Loan, & service tax paid on the insurance premium of mortgage property by company, the question is whether co can claim service tax credit on it or not?
Whether service tax paid on Insurance premium paid for transit insurance of plant & Machinery purchased is eligible for CENVAT credit...
If yes then pls give supporting rule or latest case law being followed by industry...
Dear sir,
Can you share any case laws supporting that cenvat credit is allowed
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