CENVAT CREDIT FROM SERVICE TAX OF CAPITAL GOODS
This query is : Resolved
VARUN.C.DAS
(Querist)
31 January 2011
Dear sir,
What is the treatment for capital goods purchased which have Service tax content can i availed it in full in the first year or 50%
which one is right?
What is the treatment for capital goods purchased which have Service tax content can i availed it in full in the first year or 50%
which one is right?
Madhukar N Hiregange
(Expert)
31 January 2011
Capital goods credit used for manufacture of excise goods or used for provding a taxable service is eligible for credit @50. For SSI 100% credit is allowed in the year of pruchase.
If ST has been charged for the erection/ installation/ commissioning then the 100% of the ST can be availed.
If ST has been charged for the erection/ installation/ commissioning then the 100% of the ST can be availed.
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