Credit on Service Tax

[NANDA H.L.]

Hello

We registered with Excise (manufacture of precision turned parts) and Service Tax under category GTA. Shall we avail Service Tax credit for the following, please suggest.

1. One of our customers located in Nashik. As per PO and contract, we need to deliver the parts at customer door step. The Transporter charging full service tax 12.36% and we are paying as per invoice. Shall we take credit of Service Tax paid towards Freight outward? If we are eligible to take credit, from which period we can avail the Service Tax? Since this activity we are doing from 2013.
2. Company made Group Mediclaim policy and Group personal accident insurance for the Employees and Staff. Shall we avail Service Tax credit?
3. Our Bankers charging processing Fee on yearly renewal and NEFT charges. Shall we take credit for the same?
4. Factory covered under Fire Insurance? Vehicle insurance?

Please suggest

Regards

Ravi

AI Summary

Company Can Claim CENVAT Credit for Freight, Bank Fees, and Insurance, But Not Employee Group Insurance Policies. A company involved in the manufacture of precision turned parts and registered for service tax under the GTA category inquires about the eligibility to avail service tax credit for various expenses. These include outward freight charges for deliveries to a customer in Nashik, group insurance policies for employees, bank processing fees, and insurance for factory and vehicles. The response from a tax consultancy firm advises that CENVAT credit can be availed for outward freight up to the place of removal, bank fees, and insurance, but not for group insurance policies for employees.