Input Credit on Capital Items (urgent PLZ)
This query is : Resolved
Amar Agarwal
(Querist)
04 December 2008
In our co. We are taking Input Credit on Excise and Service Tax and utilised against Output for Service Tax.
We dont have any Excise Tax Liability.
Our Output Service are charged at different rates 12%(normal Service TAX),4%(Works Contract) & 3.96%(commissioning.& Erection at abated rate).
My issue is that if any capital items is purchased and utilised for all the above services then whether input credit can be taken for payment of above service tax.
PLZ give reference
We dont have any Excise Tax Liability.
Our Output Service are charged at different rates 12%(normal Service TAX),4%(Works Contract) & 3.96%(commissioning.& Erection at abated rate).
My issue is that if any capital items is purchased and utilised for all the above services then whether input credit can be taken for payment of above service tax.
PLZ give reference
CA. Mahesh Agarwal
(Expert)
04 December 2008
yes you can take cenvat of excise duty and service tax paid on capital goods.
See CCR-2004
See CCR-2004
Amar Agarwal
(Querist)
05 December 2008
kindly confirm credit is available even it is used for abated rate services..........
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