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Central excise

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Guest

Guest (Querist)

21 June 2008 Central excise paid on the material can it be taken as a service tax refund for payment of service tax?
plz reply as soon as possible.

Shyam Lal Naik

Shyam Lal Naik (Expert)
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22 June 2008 Excise duty paid on Capital Goods(50% each in two years) and inputs(as defined in Cenvat Credit Rules)and used for providing output service can be availed as Cenvat Credit. The credit can be utilised towards payment of service tax.

CA Shailesh +91 9393926464

CA Shailesh +91 9393926464 (Expert)
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23 June 2008 At the time of payment of Output Service Tax, one is allowed to deduct the Input tax paid on Cenvatable goods used for the purpose of providing output service

Capital goods - 50% in two years
Other than Capital Goods - 100%

- CA Shailesh
+91 9346946824

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