Cenvat Credit

Queries 1219 views 3 replies

Hiiii,

I have a query …………….

We are share brokers and thus liable to Service Tax.

Now, as per Cenvat Credit Rules, 2004 we can claim Cenvat Credit on taxable input service received by us.

The problem is that we have many sub brokers for which (as per the terms of contracts) we reimburse their telephone bills, and various other expenses.

Now my query is, the telephone bills are in the name of the respective sub brokers , are we allowed to claim cenvat credit on the basis of such telephone bills reimbursed by us.  

Please provide me the relevant sections or provisions ..
Replies (3)
If the cost of tel.bill is your exp.then you can claim cenvet credit of these bills . but there is an agreement between both of u that this cost is reimb.by you and they incurr all exp.on your behalf.
but the telephone bills,insurance bills, etc,are in the name of our sub-brokers and not in our name.....that is a query all about...
can we claim cenvat credit on the basis of these documents.....
u can mail me if u have any doubt regarding the questions @ kapil_xaverian @ yahoo.com
No, you are not eligible to take the cenvat credit.


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