Cenvat Credit

This query is : Resolved

DEEPAK GOYAL (Querist)
Follow

10 October 2009 we are registered in Service Tax and Central Excise Both. We pay service tax on GTA Services used by us after taking 75% abatement. i have following questions:-

1. we Charge from our customers 10.3% service tax on services given by us, can we take modvat credit of service tax paid by us on GTA services after taking 75% abatement?

OR

2. Can we take modvat credit of Service tax paid on GTA Services after taking abatement of 75% in Central Excise?

3. Can we adjust modvat credit of telephone and mobile bills i.e. 10.3% in Service tax payable on GTA Services i.e. 2.575%?
Please clearify me in detail

Thanks

Shyam Lal Naik

Shyam Lal Naik (Expert)
Follow

10 October 2009 Both the services are input service for the purpose of Cenvat Credit Rules.

The Cenvat Credit can be utilised for discharge of Service Tax as well as Excise duty.

Please note that, you have to substantiate that these services are used for providing output servics and / or in relation to manufacture etc.

Hon'ble Supreme Court has recently observed that Cenvat Credit Rules, 2004 is poorly drafted and prone to litigation. Hence, a straight Yes or No answer is not possible, in the absence of complete information.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Archana R

Deepak Nayak

Krishnamohan Gangaraju

Shameem ahmed

Konijarala prasad

Subscribe Now

Cenvat Credit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA