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
- Reopen of assessment proceeding
- TDS on Consultancy- Non DTAA
- Depreciation of fixed assets- coop housing society in mumbai
- COMMERCIAL INVOICE FOR MATERIAL AND FREIGHT
- Reprocessing of rectification order AY 2025-26
- FTS Taxable under 115A
- Gift Received from nonblood relative
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Rental income gst and it purpose
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
