Credit on purchase of capital asset used for exports
This query is : Resolved
28 February 2011
A company(service provider) has purchased a capital asset and used it for providing export services and well as domestic services.
Will the Company be able to avail the credit on capital asset purchases.
Will the Company be able to avail the credit on capital asset purchases.
rajula gurva reddy
(Expert)
01 March 2011
If one use for providing taxable services, whether it is exported or not, he can utilise the Cenvat Credit of Central Excise duty involved on the Capital Goods or Service Tax involved on the Asset and use for payment of Service Tax involved on the Services rendered domestically.
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