25 April 2012
Whether service tax on insuarance of four wheeler (TATA ACE) is eligible for cenvat credit for manufacturing industry or not ? I think it will not be covered in definition of input service
As per the amended definition of the term Input service, some services are excluded from the definition of input services which also excludes general insurance service availed on motor vehicle except when such vehicle are capital goods within the meaning of capital goods.
So, only those manufacture can take CENVAT credit who has classified motor vehicle as Capital goods for Indirect tax purpose.
CAclubindia
