19 November 2013
One of our client a PROPRIETOR providing renting of immovable property service. has paid insurance premium (LIC), now i want to know wether the credit of Service tax paid on LIC premium be taken/utilised. If possible please provide any circular or case laws regarding this.
25 November 2013
Please go through the definition of Input Services in the CENVAT Credit Rules 2004. Service Tax on Insurance Premium on Life Insurance is not an eligible input and hence cannot be availed of or utilized for payment of output tax liability.
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