Cenvat Credit on capital Goods

This query is : Resolved

AMIT KEDIA (Querist)
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04 August 2010 Dear All,

XYZ Ltd is a company in service sector and paying service tax on its output services.

The company is constructing a buiding and incurring cost for raw material.

Please clarify whether excise duty paid on raw material for constrution shall be allowed as Cenvat Credit which can be adjusted with output service tax payable.

Regards

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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04 August 2010 No, Excise duty paid on buidling raw material is not allowed to adjusted with output service tax payable.
it will be part of builidng cost.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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04 August 2010 YES YOU CAN TAKE THE CENVAT CREDIT IF YOUR COMPANY IS A DEVELOPERS OF BUILDING.

FOR DETAILS VISIT THIS LINK.
https://www.taxguru.in/service-tax/note-on-new-service-tax-provisions-for-builders-developers.html

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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04 August 2010 AGREED WITH PYNE JI,

AMIT KEDIA

AMIT KEDIA (Querist)
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05 August 2010 Our company provides professional services in Information Technology sector

Regards

CA Sanat Pyne

CA Sanat Pyne (Expert)
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05 August 2010 THEN THE PROVISION WILL NOT BE APPLICABLE AND AS MENTIONED BY BIJENDERJI

No, Excise duty paid on buidling raw material is not allowed to adjusted with output service tax payable.
it will be part of builidng cost.

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