Credit utilization

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Ramdev

Ramdev (Querist)
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04 September 2013 Is the Credit of Excise and Service tax can be utilized for payment of VAT.?

CA Vijeta Verma

CA Vijeta Verma (Expert)
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04 September 2013 No its not possible.CENVAT credit of excise and service tax are on account of duties levied by central government whereas VAT is governed by state government.
while utilsation of CCR of excise or service tax is permitted as the ultimate benificiary is central government ,this is not the case with VAT as it would be collected by state government.

Ramdev

Ramdev (Querist)
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04 September 2013 Not Getting ur point..

Please read ur reply twice.. Sply Second para

Ramdev

Ramdev (Querist)
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04 September 2013 oohh.. Not resolved..

Ramdev

Ramdev (Querist)
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04 September 2013 First you said NOT POSSIBLE..

Then you said " While it is Permitted"

Wat is ur ans ????

CA Vijeta Verma

CA Vijeta Verma (Expert)
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04 September 2013 Yes,I missed out some words in between.
I meant CCR of Service tax and Excise can be utilise for each other only and not for VAt.

Ramdev

Ramdev (Querist)
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05 September 2013 Now i got it thanks dear !!!

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