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(Querist)
22 August 2008 i am accountant in hotel which is under construction. we have received bills from construction comapny which has charged service tax bill. i want to know whether we claim service tax we have paid to const. co if don't capitalized the service tax, after completion of hotel.
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Srinath

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Srinath (Expert)
24 August 2008 Yes CENVAT credit is available for setting up of the premises. Account the CENVAT Credit as Loans and Advances in the B/s of the company.
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Ranjit Ahluwalia

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Ranjit Ahluwalia (Expert)
25 August 2008 Yes, you can very well do that. But service tax on asset/Equipment can be claimed in three eaual annual instalments. Please check further on this as i am not very sure on that.
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