CENVAT CREDIT ON MARINE INSURANCE POLICY TAKEN FOR EXPORT OF GOODS

[SHIVANSH KHANDELWAL]

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

AI Summary

Cenvat credit on marine insurance: credit may be claimable when insurance covers goods until export and is paid by manufacturer.
Whether cenvat credit is available on service tax paid for marine insurance taken by a manufacturer for export depends on whether the insurance premium is an input service attributable to goods cleared for export; when the insurance is procured before delivery to the carrier and covers goods until the port of export, practitioners consider the credit claimable, with a tribunal judgment cited in support. If credit is not available, refund pathways under the export framework may apply to remove tax incidence on exported goods.