I've paid a premium of Fire and Earthquake insurance for my business under the business's name. Can I avail the service tax on insurance premium as cenvat credit. The premium is for the premises where the output manufacturing is taking place.
Kunal Mittal (FINANCE OFFICER) (580 Points)
18 July 2012I've paid a premium of Fire and Earthquake insurance for my business under the business's name. Can I avail the service tax on insurance premium as cenvat credit. The premium is for the premises where the output manufacturing is taking place.
Ajit kumar Dubey
(Taxation Manager)
(637 Points)
Replied 19 July 2012
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 19 July 2012
Service tax on general insurance is admissible credit. India Cements case in CESTAT Chennai supports this position.
Prateek Agarwal
(Sr. Executive - Finance & Accounts)
(1732 Points)
Replied 19 July 2012
Agreed with above experts.
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