Cenvat credit
This query is : Resolved
05 September 2011
Dear Members,
service tax paid in General insurance service related to motor vehicle is not allowed since April'2011 as per changes made in last budget.
But can a dealer take such credit if he insure his stock (motore vehicle).
service tax paid in General insurance service related to motor vehicle is not allowed since April'2011 as per changes made in last budget.
But can a dealer take such credit if he insure his stock (motore vehicle).
10 September 2011
for a dealer the vehicles are not "motor vehicle" but its "stock in trade" where the registration is not done under motor vehicle act by respective RTO.
so the block of unregistered vehicles kept in dealers premises can get insured as "stock in trade" and service tax component is available for input credit.
so the block of unregistered vehicles kept in dealers premises can get insured as "stock in trade" and service tax component is available for input credit.
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