We are private ltd. co. We have paid insurance premuim on car purchsaed by our director. can we claim Service tax inpute credit on insurance paid by compnay for the same? Car is shown as FA in co a/cs?
vinayak c. chavan (CPT passed) (1011 Points)
30 November 2012We are private ltd. co. We have paid insurance premuim on car purchsaed by our director. can we claim Service tax inpute credit on insurance paid by compnay for the same? Car is shown as FA in co a/cs?
CA Pintu Mishra
(Chartered Accountant- Industry)
(514 Points)
Replied 30 November 2012
Yes....if the vehicle is shown in the books and is used for the business it can always claim the service tax paid on expenses related to it.
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