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.
CAclubindia
