Could you kindly confirm whether we can avail the service tax credit for the below transaction.
We are a manufacturing company, we manufacture telecom products in India and in Taiwan (Taiwan is branch office and our company is 100% owed by a Ltd company in India. As the services providing to holding company we are importing license from Taiwan to India by sea to Mumbai and from Mumbai to shipment place by road in the above case can we avail service tax credit for the said transaction.
27 December 2010
Services used for business are eligible for the credit if: used in or in relation to manufacture or clearacne of goods, used for providing taxable services, Used for business. Most credits are eligible.
CAclubindia
