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Custom against service tax set off

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(Querist)
18 March 2016 service tax against custom duty can take set off
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Nilesh

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Nilesh (Expert)
18 March 2016 Customs duty - i,e CVD paid on goods can be claimed as setoff for payment of service tax subject to fact goods used for provision of services.. also BCD and SACD credit is not avaiable
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Suresh Ramaswamy

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Suresh Ramaswamy (Expert)
18 March 2016 Customs Duty is an eligible input, available on goods and services utilized for rendering output services. The Goods imported would be Capital Goods utilized for rendering services, since consumable imported goods are rarely, if ever, utilized for rendering output services. Only the Counter Availing Duty (CVD) portion is available as input credit and not the other components. Being Capital Goods, the credit has to be availed in two financial years - 50% in the year of import and the balance 50% in the subsequent year.
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