13 October 2008
Cental Cenvat Credit iro Cental excise is available in Services tax because both are central levy. Since VAT is state levy therefore we cannot take credit of VAT in Service Tax
13 October 2008
however, there are restrictions in taking credit of central excise in case of works contract service, wherein only credit on input services and capital goods is available. credit is not available in case if input materials if opting for composite scheme
14 October 2008
Cenvat Credit of Central Excise is available in Service tax (subject to certain restrictions). But Credit of VAT is not available for service tax
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