Cenvat credit on service tax paid on depository charges

This query is : Resolved

Sonal Kulshreshtha (Querist)
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28 April 2010 If an educational institute which is a service provider is paying depository charges on shares purchased from the income of institute. Can institute avail the credit of service tax paid on these charges against its own service tax liability?

Shyam Lal Naik

Shyam Lal Naik (Expert)
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28 April 2010 The depository service received can not be considered as used for providing the output service of Commercial Coaching & Training.

In my view, Cenvat Credit not available in the instant case.