Central excise
This query is : Resolved
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.
plz reply as soon as possible.
Shyam Lal Naik
(Expert)
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.
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
Capital goods - 50% in two years
Other than Capital Goods - 100%
- CA Shailesh
+91 9346946824
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