C&F Agent (Commision business cum trading business)

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....&F Agent (Commision business cum trading business)<br> Query (Issue) Started By: - kamal mall Dated:- 23-5-2014 Last Reply Date:- 26-5-2014 Service Tax<br>Got 2 Replies<br>Service Tax<br>Dear Sir, O....

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....ur company is a C&F agent of a company and earning brokerage of 50 lacs and paying service tax. Our company also has Trading business with turnover of 400 crore and same have many agents for this sale....

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....s. The agents are charging service tax on us. Now we want to adjust our output service tax with Input CENVAT. Whether it is allowable? Reply By Pradeep Khatri: The Reply: Dear Kamal, Trading is exe....

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....mpted activity under Service Tax Laws (i.e. Finance Act, 1994 as amended from time to time). Therefore you cannot avail the CENVAT credit on such services. Regards, Team YAGAY & SUN (Consultants In....

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....direct Taxes) Reply By Madhukar N Hiregange: The Reply: The cenvat credit of commission paid to agents for services which are used for earning the brokerage services would be eligible. If they are e....

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....xclusively used for trading activity then may not be available. If they are common then part credit would be available. See Rule 6 of cenvat credit rules for what part of common services is eligible.<....

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