sale of animal good or not
This query is : Resolved
MURALI MOHAN V
(Querist)
25 January 2017
company was registered as Service provider. nature of business is lab testing on animals and paying service tax on services and company have own breeding facility. breeding animal use for studies and if any surplus animal sales to other labs. company get revenue on services and sale of animals. company paying rent to facilitate including breeding department and taking input on rent and adjusted against service tax payments. company Not paying any tax on sale of animals.
clarification
As per cenvat rules it correct or not.
sale of animal is exempted good as central excise act.
CA R SEETHARAMAN
(Expert)
26 January 2017
No excise duty applicable on sale of animals.
MURALI MOHAN V
(Querist)
26 January 2017
breeding and sale of animal comes under trading. what treatment of common input of rent.
MURALI MOHAN V
(Querist)
26 January 2017
live animal comes under exciseable goods or exempted good
CA R SEETHARAMAN
(Expert)
27 January 2017
It is exempted goods under excise. Deduct rent as expenses under income tax calculation.
MURALI MOHAN V
(Querist)
27 January 2017
what is the treatment of common cenvat credit as per cenvat rules.
CA R SEETHARAMAN
(Expert)
27 January 2017
Cenvat credit can be claimed only, when the input service is utilized for providing out put service.
MURALI MOHAN V
(Querist)
27 January 2017
any propornate calculation for common input.
CA R SEETHARAMAN
(Expert)
27 January 2017
Yes you can do that.
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