Cenvat credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2010
Can we take credit of Basic and Additional customs Duty on capital goods against the Service tax liabilty? as well can we take cenvat of service tax paid on input services against Excise?
CA Ayush Agarwal
(Expert)
24 December 2010
After Modifying as Not Seen Custom & Read Cenvat
Customs duty normally consists of customs duty [ normal rate 10%] addtional duty of cusotms equal to excise duty [ also 105 called CVD at times] and special addtional duty of cusotms [ 4%]
In these for the manufacturer ADC +SAD i.e. 10 + 4 is available
For service providers 10% would be available.
Capital goods shouldbe eligible and also used for manufacture/ service subjected to duty.
Customs duty normally consists of customs duty [ normal rate 10%] addtional duty of cusotms equal to excise duty [ also 105 called CVD at times] and special addtional duty of cusotms [ 4%]
In these for the manufacturer ADC +SAD i.e. 10 + 4 is available
For service providers 10% would be available.
Capital goods shouldbe eligible and also used for manufacture/ service subjected to duty.
CA ASHISH GUPTA
(Expert)
24 December 2010
@ Ayush: I am not agree with your view.
As per my view custom duty credit is not available.
As per my view custom duty credit is not available.
Manmohan ACA, CS
(Expert)
24 December 2010
Can we take credit of Basic and Additional customs Duty on capital goods against the Service tax liabilty?
no
as well can we take cenvat of service tax paid on input services against Excise?
Yes
no
as well can we take cenvat of service tax paid on input services against Excise?
Yes
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