https://www.taxtmi.com/caselaws?id=270231 CENVAT credit was admissible on advertisement services used by an asset management company for mutual fund schemes because the company's functions extended beyond day-to-day management to scheme implementation, the advertisements were permitted under mutual fund regulations, and the service tax was paid on the gross value without reimbursement as pure agent expenditure. Credit was also admissible on service tax paid under reverse charge on brokerage and commission to brokers and distributors because tax payment and entitlement to credit were established, the amounts were not reimbursed, and procedural defects in the supporting documents could not defeat substantive credit. The denial of credit on both counts was set aside. en-us Tue, 08 Dec 2015 00:00:00 +0530 Fri, 01 Jan 2016 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270231 CENVAT credit was admissible on advertisement services used by an asset management company for mutual fund schemes because the company's functions extended beyond day-to-day management to scheme implementation, the advertisements were permitted under mutual fund regulations, and the service tax was paid on the gross value without reimbursement as pure agent expenditure. Credit was also admissible on service tax paid under reverse charge on brokerage and commission to brokers and distributors because tax payment and entitlement to credit were established, the amounts were not reimbursed, and procedural defects in the supporting documents could not defeat substantive credit. The denial of credit on both counts was set aside. Case-Laws Service Tax Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270231