Adjustment of excise input on capital goods
This query is : Resolved
Guest
Guest
(Querist)
21 February 2011
hi...
my query is that one of our client 'a company' registered under only Service tax for only providing management consultancy services and claiming 100% cenvat credit on input services ...i want to know during the year some computer worth rs. 650000 was purchased and excise duty was paid rs. 66950 i.e. (10.3%)now i want to know whether this can be claimed as a CENVAT CREDIT and can this amount adjusted with service tax liability arise on providing output services...plz this is urgent quick responce will be appreciated
thanks
my query is that one of our client 'a company' registered under only Service tax for only providing management consultancy services and claiming 100% cenvat credit on input services ...i want to know during the year some computer worth rs. 650000 was purchased and excise duty was paid rs. 66950 i.e. (10.3%)now i want to know whether this can be claimed as a CENVAT CREDIT and can this amount adjusted with service tax liability arise on providing output services...plz this is urgent quick responce will be appreciated
thanks
21 February 2011
Dear Mahaveer
Off course you will get all input credit either excise or service tax, subject to in invoice of computer purchase Excise duty should be separately mentioned. Or you dealer has forwarded you excise invoice copy.
Only in WCT cases excise on Input Material credit is not available when assessee follow composition scheme. Your scheme is different, you are eligible to take credit.
Best Regards
For Asutosh & Pankaj
Chartered Accountants
Audit ! Assurance ! Risk Assesement ! Consulting
Pankaj K Jaiswal, FCA
Partner
www.anpllp.com
pankaj@ascoca.com
pankaj@anpllp.com
Call me- +91 98 1968 0011
HO : A 914 Sagar Tech Plaza, Sakinaka Junction Andheri East, Mumbai-MH-400072 ( India )
BO : 402 Choice A Apt, Dhole Patil Road, Pune-MH-411001 ( India
Off course you will get all input credit either excise or service tax, subject to in invoice of computer purchase Excise duty should be separately mentioned. Or you dealer has forwarded you excise invoice copy.
Only in WCT cases excise on Input Material credit is not available when assessee follow composition scheme. Your scheme is different, you are eligible to take credit.
Best Regards
For Asutosh & Pankaj
Chartered Accountants
Audit ! Assurance ! Risk Assesement ! Consulting
Pankaj K Jaiswal, FCA
Partner
www.anpllp.com
pankaj@ascoca.com
pankaj@anpllp.com
Call me- +91 98 1968 0011
HO : A 914 Sagar Tech Plaza, Sakinaka Junction Andheri East, Mumbai-MH-400072 ( India )
BO : 402 Choice A Apt, Dhole Patil Road, Pune-MH-411001 ( India
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR 2 Short Term gain & Long term gain
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR returnFY25-26
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
