Cenvat Credit on Cheque Book Charges

1126 views 5 replies

Dear All,

Q. 1 . Just like to know that weather cenvat credit is available inrespect of Cheque Book ( Issue ) charges ?

 

and

 

Q. 2 . As per finance bill 2011 service tax is payable on accrual basis, from 1st april , 2011, My question is weather Cenvat Credit can be avail on accrual basis as there is no amenment in cenvat credit rules.

 

Regards,

 

Yogesh Bhatt. 

Replies (5)

1) cheque book does not comes under services, its stationary.

2) accural basis means raising of invoice or payment whichever comes earlier, so once u get the invoice u can take credit.

Thank,

and wt about Bank Clearearing Charges ?

Thanks.

Yogesh.

Service tax will continue to be apply on cash basis atleast till 30th June 2011.

Originally posted by : Yogesh Bhatt

Thank,

and wt about Bank Clearearing Charges ?

Thanks.

Yogesh.

as far as we know there is no clearing charge on local cheques, for outstation cheques collection charges applicable but thats more on side of postage of cheques and back post of clrearence advise. 

As per amended definition of input service tax paid in relation to financing services is available as cenvat credit. Since cheque book charges is in relation to banking services the same cannot be availed

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