Cenvat credit on "duty paid" on fg produced and capitalized
This query is : Resolved
15 December 2015
Dear Sir/ Ma'am,
A company manufactures machines which is been sold to customers as well as rented, When the machine is sold duty is being collected, also when rented duty is paid, and when machine is rented the same machine is capitalized, my query is can they utilise this duty. Can they transfer this duty payment on rental machines to RG23C
Thank you
A company manufactures machines which is been sold to customers as well as rented, When the machine is sold duty is being collected, also when rented duty is paid, and when machine is rented the same machine is capitalized, my query is can they utilise this duty. Can they transfer this duty payment on rental machines to RG23C
Thank you
Arun Kumar Singh
(Expert)
19 December 2015
You need to charge service tax on capital goods supply on rent and you can take the credit of input, input services and capital goods used in the providing of output service.
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