Excise credit
This query is : Resolved
Prajot P. Volvoikar
(Querist)
22 May 2013
Dear Sir
I am doing audit of a shipyard situated in goa. This shipyard is also having a machining shop in which it manufactures propellors of ships. This ship yard is having a lot of input Excise credit on the materials purchased for ship building. The government has exempted the ship building industry from excise duty.
Is it possible to take such credit of excise for paying excise on manufacture of propellors?
Is it possible to take such credit of excise for paying Service tax (Payable for barge freight earnings)?
Regards
Prajot
I am doing audit of a shipyard situated in goa. This shipyard is also having a machining shop in which it manufactures propellors of ships. This ship yard is having a lot of input Excise credit on the materials purchased for ship building. The government has exempted the ship building industry from excise duty.
Is it possible to take such credit of excise for paying excise on manufacture of propellors?
Is it possible to take such credit of excise for paying Service tax (Payable for barge freight earnings)?
Regards
Prajot
12 July 2013
Now the shipyard is covered under Central Excise so all input excise can be adjusted against excise duty payable
12 July 2013
Now the shipyard is covered under Central Excise so all input excise can be adjusted against excise duty payable
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