Can cvd set off against service tax
This query is : Resolved
14 August 2011
We are importing some Computer on which we have to pay cvd. These computer will be given on rent. whether in this case can cvd be set off against service tax payble on rent
14 August 2011
CVD is Countervailing duty which will be equal to Excise Duty levied in India hence it is equal to ED input hence it can be used to set off with Service Tax Payable provided subject to other conditions for CENVAT Credit for Utilizing the Input
Best Wishes
Best Wishes
Message likes :
1 times
14 August 2011
WHAT IS THE OTHER CONDITIONS FOR CENVAT CREDIT
15 August 2011
From the facts, CENVAT is available.
However, please check whether Service tax is applicable ?
If effective possession and control is transfered, VAT is applicable and not Service tax. Normally, the computer will be installed at the customer's premises.
However, please check whether Service tax is applicable ?
If effective possession and control is transfered, VAT is applicable and not Service tax. Normally, the computer will be installed at the customer's premises.
Message likes :
1 times
15 August 2011
I agree with the experts
16 August 2011
We are giving computer on rent. According to VAT right to use is covered under VAT as such VAT is applicable. But after 2008 Tangible assets given on rent is covered under service tax. Whether Both tax can be applicable, if not which one will be applicable
18 August 2011
Yes, in this case both taxes are applicable.
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
