Service Tax

Querist : Anonymous (Querist) 06 May 2010 This query is : Resolved

Company got incorporated with object clause of insurance business. But business income has not been arrived as company has not obtained licence from IRDA so far. Can company accumulate service tax paid during this period on expenses incurred for utilizing it as CENVAT credit for future service tax liability of the company ,even though company has not applied for service tax registration and therefore not filed service tax return as well?

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ESTHERPRIYA (Expert) 06 May 2010
It is advisable to follow statutory guidelines and approval from IRDA and applying for service tax registration are essential.

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