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Cenvat credit on capital asset in service tax

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(Querist)
11 March 2013 hi sir plz help me
one of my aseessee purchased a machinary and paid excise duty and machinary is used for service provide.
is he allowable decduction in service tax retun
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CA SANDIP PATEL

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CA SANDIP PATEL (Expert)
11 March 2013 Yes you can take cenvat credit of excise duty paid towards payment service tax. 50% of cenvat credit in first year and 50% in next year.
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chandan

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chandan (Querist)
13 March 2013 thanks sir




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