Final product exempted
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 November 2010
Dear Experts,
If a mfg. has final product exempt from Excise duty, then:
1) what is the traetment for its Excise inputs paid on purchase?
2) What is the traetment of Service Tax paid paid on input services paid?
3)Beside adjustment of Service tax with Excise duty, can the Service tax input can be adjusted with Service tax output, and the balance /excess input service tax remaining be treated as expenses and debited to P/L account seperately?
Thnx in advance.
If a mfg. has final product exempt from Excise duty, then:
1) what is the traetment for its Excise inputs paid on purchase?
2) What is the traetment of Service Tax paid paid on input services paid?
3)Beside adjustment of Service tax with Excise duty, can the Service tax input can be adjusted with Service tax output, and the balance /excess input service tax remaining be treated as expenses and debited to P/L account seperately?
Thnx in advance.
15 November 2010
If final product is the single product then no input credit will be available, either for excise or service tax.
You can use service tax input credit both for duty and service tax.
You can use service tax input credit both for duty and service tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- 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
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
