Cenvat credit on processing fees paid to bank

This query is : Resolved

Shrirang Galgali (Querist)
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31 December 2012 Sir,
We are a manufacturing company, as part of expansion, we have availed Term loan and working capital loan from a bank.
We have paid processing fees towards disbursement of the loan.
Can we take credit on the service tax paid for the above mentioned loans?

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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31 December 2012 Yes you can. Ensure you have proper documents duly certified by bank.

Shrirang Galgali

Shrirang Galgali (Querist)
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31 December 2012 Dear Sir,

Thank you very much.

Please let us know, what document is required for taking the credit on service tax?

Also can this credit be utilized for payment of duty on clearance of finished goods?

Shrirang

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Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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31 December 2012 Bank certificate.
Yes can beused to pay CE.

Shrirang Galgali

Shrirang Galgali (Querist)
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31 December 2012 Dear Sir,

Thank you very much