TaxTMI 
TaxTMI 
Can I avail Service Tax of Insurance Policy for Product Liability Insurance,
which is covered a manufacturing product export to outside of India in case of any defect company has to re-call and pay all losses to buyer.
Can Avail Service Tax Input Credit of Product Liability Insurance
24 Jul 2015 
4 Replies 
6519 Views Asked by
Cenvat credit on insurance allowed when availed in India before goods are handed to the shipping line.
Cenvat credit on product recall/product liability insurance is available where the insurance service is provided in India and availed before the goods are handed to the shipping line; the place of removal for export is the port/ICD/CFS where shipping bill is filed, and services availed up to that place of removal qualify as input services for credit. (AI Summary)
Cenvat credit on product recall/product liability insurance is available where the insurance service is provided in India and availed before the goods are handed to the shipping line; the place of removal for export is the port/ICD/CFS where shipping bill is filed, and services availed up to that place of removal qualify as input services for credit. (AI Summary)