Cenvat availability to a restaurant
This query is : Resolved
28 February 2016
Dear professionals
As Restaurant service is liable for service tax @ 40% of total bill. Whether a restaurant can avail 'Full' cenvat credit on input service and capital goods or 'partly'. Is there any specific criteria for it.?
Thanks in advance
28 February 2016
Notification No: 26 / 2012 - S.T dated 20th June 2012 and amended from time to time, the last one being by Notification No: 8 / 2015 - S.T. dated 1st March 2015 has clearly laid down the following condition to avail of abatement of 60% in the taxable service of providing food and drinks in an A/C Restaurant " CENVAT credit on any goods classifiable under Chapters 1 to 22 of the Central Excise Tariff Act, 1985 (5 of 1986) used for providing the taxable service, has NOT BEEN TAKEN (emphasis provided) under the provisions of the CENVAT Credit Rules, 2004."
Therefore CENVAT credit cannot be availed off either partly or fully.
Therefore CENVAT credit cannot be availed off either partly or fully.
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Rental income of jointly held property
- LIABILITY ADJUSTMENT
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- Banking Related Issue
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
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
