Input service tax credit & caiptal goods excise credit
This query is : Resolved
Dasharath Appa Pujari
(Querist)
21 October 2012
Dear All,
Can input service tax credit will be setoff against Excise duty liability?
In what percentage the Excise credit on Procured Capital Goods be availed to pay excise liabilty on Finished Goods?
Can input service tax credit will be setoff against Excise duty liability?
In what percentage the Excise credit on Procured Capital Goods be availed to pay excise liabilty on Finished Goods?
Madhukar N Hiregange
(Expert)
22 October 2012
CG credit normally 50% in year of receipt and 50% in subsequent years. If SSI unit then 100% in year of receipt.
Yes input service tax can be used to pay CED.
Yes input service tax can be used to pay CED.
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Dasharath Appa Pujari
(Querist)
22 October 2012
Thanks Madhukar.
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