Dear All,
Whether CENVAT CREDIT on premium paid on MARINE INSURANCE POLICY taken for the purpose of export of goods can be availed?
If can't be availed coz of CCR UpTo place if removal clause....then what will be the place of removal in this case.... As insurance cost is borne by the manufacturer....
Kindly reply with any relevant case law.
Thank you all
Eligibility to Claim CENVAT Credit on Marine Insurance for Export Goods: Key Points and Case Law Insights A forum participant inquired about the eligibility to claim CENVAT credit on the premium paid for a marine insurance policy taken for exporting goods. The discussion involved multiple replies, with one participant suggesting that CENVAT credit can be claimed if the insurance is taken before handing over goods to the shipping line, indicating the port of export as the place of removal. A relevant case law from CESTAT Chennai was cited to support this view. Another participant mentioned that even if credit is not available, a refund might be possible according to the Foreign Trade Policy. (AI Summary)
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