One of our client a PROPRIETOR providing renting of immovable property service. has paid insurance premium (LIC), now i want to know wether the credit of Service tax paid on LIC premium be taken/utilised.
If possible please provide any circular or case laws regarding this.
Menu
Service tax credit
Replies (2)
I don think we can take credit on the premium paid.The premium paid cannot be directly related to renting.
As per Rule 2(1) of Cenvat Credit Rules, Which defines " Input Service" has exclusion clause as follows -
outdoor catering, beauty treatment, health services, cosmetic and plastic surgery, membership of a club , health and fitness centre, life Insurance , Health Insurance.
so cenvat credit can not be allowed on LIC.
Recent Topic
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
- ITR-2 Schedule CG: Indexation cost ignored for lan
Related Topics
CAclubindia
