Question ID : 2857

FOR CENVAT CREDIT IS HE ELIGIBLE

One of our client created a separate fund and ved such fund various type of securities and ga arised on such fund is distributed to employees.
He will not partisipate gas and total gas distributed to employees.
Even araised on such vment is charged to P&L account.
He is payg service tax on such transations.


My query is
Whether he is eligible to cim CENVAT credit on service tax paid on such transactions on the basis that the transactions are entered to provide benifit to the employees for the purpose to a them for a long period.

Please crify.



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