cenvat credit

This query is : Resolved

gopal kumar burma (Querist)
Follow

26 February 2011 I m an employee of an insurance co.
I want to know in case of repairing of capital goods the CENVAT credit can be availed by client or not?
And in case of insurance agent who is liable to pay service tax and which amount in case of commission and brokerage.

tarun goel

tarun goel (Expert)
Follow

27 February 2011 yes, cenvat credit on inputs used in repair of capital goods is available provided the manufactureer is otherwise eligible to avail cenvat credit. in case of insurance agent, the gross commission received by him from the company i.e bill received in respect of commission only and not the whole value of the insurance.

gopal kumar burma

gopal kumar burma (Querist)
Follow

12 March 2011 But sir in case of machinery lost some part in transit and it is repaired .The consern is a manufacturing concen then under this case the insurance co. is liable to pay Excise or VAT what may be the case ? If Yes or where do I get reference to see it ?

Upgrade to CAclubindia Pro. Subscribe Now!