service tax on banking & other financial services

[raj nadh]

Dear Expert,

We have received an invoice on service charges towards banking and other financial services. Shall I take ST credit on this invoice as we are not registered with banking and other financial services in our service tax registration.

Pls confirm as soon as possible

Anand

AI Summary

Eligibility for CENVAT Credit on Banking Services Clarified: Registration for Specific Services Not Required Under CCR Rules, 2004. An individual inquired about the eligibility to claim CENVAT credit on service charges related to banking and other financial services, despite not being registered under these specific services in their service tax registration. An expert responded, explaining that to avail CENVAT credit, the service provider or recipient must be registered with the Service Tax Department and provide taxable services. The services must be input services as per CCR Rules, 2004, and enhance the output service quality. It was clarified that registration for the specific services is not required, and the individual can claim the CENVAT credit.