CENVAT CREDIT on service tax paid on insurance cover of empl
This query is : Resolved
25 March 2009
1. Whether CENVAT CREDIT can be taken on service tax paid on insurance premium amt. of following policies.
A. WorKmen compensation
B. Group Mediclaim Policy
C. Group Personal accident policy
D. Motor Car insurance premium
A. WorKmen compensation
B. Group Mediclaim Policy
C. Group Personal accident policy
D. Motor Car insurance premium
25 March 2009
Yes, It can be taken.
Message likes :
1 times
25 March 2009
Normally credit is not deniable.
However in a recent open house by TIOL it was stated by the authorities that such credit will not be allowed as it is not in relation to the provision of services / manufacture of goods and hence stands to be deniable.
But few consultants are of the opinion that employees contribute to the activities and therefore for all purposes it cannot be subject to denial.
You may however take the credit but restrict the utilisation till the matter is clarified by the board.
This is the most can be said against your enquiry
However in a recent open house by TIOL it was stated by the authorities that such credit will not be allowed as it is not in relation to the provision of services / manufacture of goods and hence stands to be deniable.
But few consultants are of the opinion that employees contribute to the activities and therefore for all purposes it cannot be subject to denial.
You may however take the credit but restrict the utilisation till the matter is clarified by the board.
This is the most can be said against your enquiry
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Refund of AY 22-23
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Inventory of finished goods
- TDR receipts for agreement holder
- Company Incorporation - CA and directors signing from different states
- Sale of property furniture sale
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Filing of Form 10BB instead of Filing Form 10B
- Refund AY 2012-13 and 2013-14
- DIRECT TAX CODE 2025
- MODEL FILLED AUDIT REPORT FOR TRUSTS IN FORM 10B
- 115TD on cancellation of 12A 80G Registration
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- CASE INTIMATION OF LIABILITY UNDER SECTION 73(5)(Rule 142(1A)
Trending Online Classes
CAclubindia
