Cenvat Credit on capital Goods
This query is : Resolved
AMIT KEDIA
(Querist)
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
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
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.
it will be part of builidng cost.
CA Sanat Pyne
(Expert)
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
FOR DETAILS VISIT THIS LINK.
https://www.taxguru.in/service-tax/note-on-new-service-tax-provisions-for-builders-developers.html
04 August 2010
AGREED WITH PYNE JI,
AMIT KEDIA
(Querist)
05 August 2010
Our company provides professional services in Information Technology sector
Regards
Regards
CA Sanat Pyne
(Expert)
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.
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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