Eligiblity for input credit of service tax paid
Querist : Anonymous
- Excise Duty levied on Readymade Garments under section 3(2) w.e.f 1st Mar 2011 , giving 40% abetment initially and subsequently increased to 55% and finally to 70% w.e.f 16th Mar 2012.
- We are a Company engaged in manufacturing, whole selling and retailing of Readymade Garments through our own Exclusive Brand Outlets all across India.
- The goods are cleared from our factory on payment of full Excise Duty and brought to our central warehouse and from central warehouse, the materials are dispatched to various stores as well as sold to dealers.
- The stores has been taken on Rent and therefore are paying Service Tax on Rent besides on Advertisement, Professional Fees etc.
- Input Service defined as Services used for “Transportation and Storage up to the place of removal” besides all other cost used directly or indirectly incurred in relation to Manufacturing or clearance of goods upto the place of removal and several other charges.
Query:
- In the light of the above facts, we would like to know Whether we are eligible for Input Credit of service tax paid on various charges including Rent for Stores.
you can also reply the above to me at caharunansari@gmail.com/md.ansariharun@gmail.com
https://www.caclubindia.com/articles/cenvat-credit-on-own-retail-shop-showroom-14775.asp#.UOm3_eQgEbA
Querist : Anonymous
Excise Duty is levied on Readymade Garments under section 3(2) w.e.f 1st Mar 2011 and section 4(2) says that the provision of this section shall not apply in respect of any excisable goods for which a tariff value has been fixed under sub section (2) of section 3 and Section 4A itself says Place of manufacture instead of place of removal
on the basis of above ground can we claim input service....
Click here to login now
Similar Resolved Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Refund of 20%pre-deposit paid for stay application
- If there is Long term capital gain exists how much total income to be considered
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
