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Setoff service tax on site contract work

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(Querist)
17 August 2007 We have given contract for site development, plot level, compound wall etc. A single running bill is raised on our company with service tax @12.36%. So can we get set-off/credit of Service tax 12.36% against Excise returns?
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Munish K Sharma

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Munish K Sharma (Expert)
18 August 2007 Yes, your company can can get credit of service tax. For details refer to Cenvat Credit Rules, 2004.

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