Cenvat credit

This query is : Resolved

Shubham Garg (Querist)
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02 January 2016 If any company is in the business of trading and also providing services, can it takes credit of cenvat in respect of paying service tax on rent paid by it.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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02 January 2016 If the premises is used for providing taxable service then proportionate cenvat credit can be taken.

Shubham Garg

Shubham Garg (Querist)
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03 January 2016 Is distribution of credit can be on basis of area engaged in trading activity and service activities Or It can be on basis of turnover of trading activities and taxable services

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 January 2016 Distribution of credit can be on the basis of area engaged in trading activities and service activities.

Shubham Garg

Shubham Garg (Querist)
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03 January 2016 Please indicate the respective Section or Rule No., where i can find the full details.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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03 January 2016 Maintain separate books of accounts for trading and services, allocating rent on the basis of space occupied. Refer Rule 6(2) of cenvat credit Rules.

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