Credit of Excise or Service Tax on purchasing of assets
This query is : Resolved
29 March 2009
Can a Company takes Credit of Excise and Service tax on Purchasing of Fixed assets??? What will be the Procedure???
30 March 2009
In my opinion Yes you can take the credit but if the fixed assets falling under (CENVAT credit rule) rule 2(a)then you can avail the 50% in the year of acquisition and rest in subsequent F.Y.
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