Hi Sir,
IN CASE OF BANKS THEY PAY THE DICGC INSURANCE TO DICGC IN THE INTEREST OF RBI WHETHER THEY CAN BE ABLE TO SET OFF THE SERVICE TAX PAID AMOUNT TO DICGC AS IN PUT CREDIT.
v. srinivas (accounting clerk) (25 Points)
21 February 2015Hi Sir,
IN CASE OF BANKS THEY PAY THE DICGC INSURANCE TO DICGC IN THE INTEREST OF RBI WHETHER THEY CAN BE ABLE TO SET OFF THE SERVICE TAX PAID AMOUNT TO DICGC AS IN PUT CREDIT.
Vikas
(CA)
(1135 Points)
Replied 26 February 2015
There is no specific condition for not availing Cenvat credit of the aforesaid service. Thus, the same should be available.
However, please refer to Rule 6(4B) of the Cenvat Credit Rules, 2004 (CCR), specifically inserted for Banks.
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