TaxTMI 
TaxTMI 
Service tax credit
19 May 2014 
2 Replies 
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CENVAT credit eligibility for corporate telephony, insurance and bank charges where services support taxable manufacturing or services.
CENVAT credit on telephony, mobile phones issued to employees, insurance premiums and bank charges is available to manufacturers of dutiable goods or providers of taxable services, subject to the CENVAT Credit Rules, 2004 and the definition of Input Services (as amended). If goods or services are exempt, the applicable restriction on credit must be examined and procedural and documentary compliance under the CENVAT regime must be satisfied. (AI Summary)
CENVAT credit on telephony, mobile phones issued to employees, insurance premiums and bank charges is available to manufacturers of dutiable goods or providers of taxable services, subject to the CENVAT Credit Rules, 2004 and the definition of Input Services (as amended). If goods or services are exempt, the applicable restriction on credit must be examined and procedural and documentary compliance under the CENVAT regime must be satisfied. (AI Summary)
Dear All1. Shall we avail service tax credit on Telephone payments (telephone installed & billing address to company only)& also for the mobiles (Billing to company address & cell phone issued to company engineers & executives only)2. Credit on Insurances (company covered fire & theft)3. Bank charges on CC limitPlease suggest