Cenvat credit
This query is : Resolved
Rakesh Chaudhary
(Querist)
09 January 2013
I am getting service tax on rental income and depositing it to Govt.of India. I am also earning some salary income and Capital gain.
Now, I am paying service tax towards purchasing a new commercial property, position of the property will be later next year (Payment under construction linked plan).
Should I take CENVAT credit of the service tax paid? If Yes, is it 100%, or 50% in this FY and 50% in next FY.
Thanks,
Rakesh Chaudhary
Now, I am paying service tax towards purchasing a new commercial property, position of the property will be later next year (Payment under construction linked plan).
Should I take CENVAT credit of the service tax paid? If Yes, is it 100%, or 50% in this FY and 50% in next FY.
Thanks,
Rakesh Chaudhary
Kaushik Vinod
(Expert)
10 January 2013
Dear Rakesh Ji,
No CENVAT Credit in terms of Rule 2(l) of CCR,2004 excluding part of the definition.
See Rule 2(l) of CCR,2004 from 01-07-2012.
Thanks
No CENVAT Credit in terms of Rule 2(l) of CCR,2004 excluding part of the definition.
See Rule 2(l) of CCR,2004 from 01-07-2012.
Thanks
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