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CENVAT CREDIT ON MARINE INSURANCE POLICY TAKEN FOR EXPORT OF GOODS, Service Tax |
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CENVAT CREDIT ON MARINE INSURANCE POLICY TAKEN FOR EXPORT OF GOODS |
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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 Posts / Replies Showing Replies 1 to 10 of 10 Records Page: 1
Dear Sir, As per my view, you may claim cenvat credit of service tax paid on insurance premium of Marine Policy.
Dear Mr. Pawan Kumar...can u refer me any relevant case law... Or any legal support Thanks
Sir, In your case the place of removal is the port of export. You have taken the insurance before handing over the export goods to the Shipping Line. Therefore you are eligible to avail credit of service tax paid on marine insurance paid by you.
Sir, I am appending hereunder a relevant case law:- 2016 (5) TMI 843 - CESTAT CHENNAI- Alstom T & D Ltd. Versus Commissioner, LTU, Chennai
Thank you....but would like know...that even if Insurance is for marine cargo....will it be after the consensus of place of removal...
Sir, the case law cited by Sri Rajagopalan Sir, states that Service tax paid on insurance of the goods cleared from the factory gate till that reaches abroad. Your query is catered. Thanks.
Even if on the worst case scenario, for the sake of argument, if CENVAT credit is not available, even then, refund would be available since as per the FTP Goods and Services should be exported out of India but not the taxes to make Indian Goods and Services .
Yes Sir, I agree with you. You have enriched my knowledge. Thanks.
Rajagopalan Ranganathan Sir, We have gone through the judgment which was shared by you. First of all thanks for enriching our knowledge and the second one is that "Do Keep Writing & replying with a smile" Regards, YAGAY AND SUN (Management, Business and Indirect Tax Consultants)
Sir, No. I am not replying with a smile. Page: 1 Old Query - New Comments are closed. |
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