My query is whether service tax charged by bank for its services like forex conversion, CC/OD charges, LC charges etc are all eligible for input tax credit or there is some restrictions?
01 September 2016
You can take the cenvat credit of these input services in regards to manufacturing of final product or providing output services.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
01 September 2016
Thank you so much sir. But my colleague is differing for this saying that we have exported and received the forex. Now for conversion, bank has charged ST. This is not related to manufacturing and thus, can not be allowed for cenvat credit. Is he true?