Cenvat on service tax
This query is : Resolved
16 August 2012
Can CENVAT on service Tax on software (SAP-ERP being used in production,planning & control) be taken. Is this CENVAT to be taken as Capital goods i.e.. 50% + 50% or it can be taken as 100% . Being software it is not fitting in capital goods defination.
16 August 2012
It can be taken @100% in the year of expenditure incurred. It has to be assured that credit taken amount has to be reduced from the amount of capitalisation.
16 August 2012
50%- 50% is only for cenvat credit of excise duty and not for service tax.
Even if you book it as capital goods it will be considered as input service only and 100% credit will e allowed in the current year only.
Even if you book it as capital goods it will be considered as input service only and 100% credit will e allowed in the current year only.
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