Sir,
We are manufacturing industry and we are paying insurance for our buildings, stock, rawmaterial. We are also paying insurance for our vehicles (transport goods and passenger )
Now can we take service tax credit on payment of the above insurances. if yes all the the above. if not what are applicable ones.
Please suggest.
Sumanth
In my view, you can claim Cenvat Credit only for Insurance paid for Buildings, Stock and Raw Material. Cenvat Credit on vehicles may not be allowed.
M N Rao & Associates LLP
Vijayawada
CA Inter
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RMA And Associates LLP
New Delhi
CA Inter
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CCI
Pro
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