Credit of st on power purchase from iex
This query is : Resolved
02 May 2015
We, manufacturer of textile goods (yarn) in MP state. We are purchasing power from open access (IEX) through licensee. Licensee has charged trading fee on daily basis based upon the power unit traded. In the bill of trading fee, he is charging service tax @12.36%. We are paying them the fee + taxes in advance. Power purchased in this transaction is not definite its generation point but power supplied using the lines of State Electricity Board. Can I avail the credit of Service Tax paid in this transaction ?
02 May 2015
If the power purchased is utilized for manufacturing excisable goods you can claim cenvat credit.
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