Sir,
I have a doubt regarding availment of service tax charged by the insurance company, insurance covered for factory stock, plant & machinery,computer etc.,
Kindly clarify.
Thanks in advance.
Devadas Prabhu (Finance Head) (53 Points)
16 March 2014Sir,
I have a doubt regarding availment of service tax charged by the insurance company, insurance covered for factory stock, plant & machinery,computer etc.,
Kindly clarify.
Thanks in advance.
MJ Krishnamurthy
(ACCT(Retd))
(7197 Points)
Replied 17 March 2014
Mr D Prabhu,
Here is a restriction. The category under which you are paying ST and the input ST both must be of same type. Suppose you are a transporter paying ST on the receipts of your business,then you can not avail the ST charged by the insurance co in the insurance policy of vehicles used by you etc.....mjk
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