SERVICE CONTRACT (URGENT)
This query is : Resolved
20 May 2011
SIR,
I AM WORKING IN A MECHANICAL CONSTRUCTION CO. WE PURCHASE STEEL & AFTER THAT FABRICATE IT & USED IT IN MECHANICAL SERVICES IN REFINERY.
I WANT TO KNOW THAT WHETHER WE CAN TAKE INPUT OF EXCISE DUTY PAID ON PURCHASE OF STEEL WHILE PAYING SERVICE TAX.
IT'S URGENT PLEASE REPLY.
I AM WORKING IN A MECHANICAL CONSTRUCTION CO. WE PURCHASE STEEL & AFTER THAT FABRICATE IT & USED IT IN MECHANICAL SERVICES IN REFINERY.
I WANT TO KNOW THAT WHETHER WE CAN TAKE INPUT OF EXCISE DUTY PAID ON PURCHASE OF STEEL WHILE PAYING SERVICE TAX.
IT'S URGENT PLEASE REPLY.
U S Sharma
(Expert)
20 May 2011
no,
works contract composition scheme does not allow input credit of input/ input services.
works contract composition scheme does not allow input credit of input/ input services.
20 May 2011
SIR,
WE PAY EXCISE DUTY WHILE PURCHASING STEEL. AFTER THAT WE FABRICATE IT & SALE IT TO PARTY THEN WE NEED TO PAY EXCISE DUTY OR NOT.
ALSO TELL THAT WHY WE CAN NOT TAKE CENVAT OF EXCISE DUTY PAID ON INPUT i.e. steel.
WE PAY EXCISE DUTY WHILE PURCHASING STEEL. AFTER THAT WE FABRICATE IT & SALE IT TO PARTY THEN WE NEED TO PAY EXCISE DUTY OR NOT.
ALSO TELL THAT WHY WE CAN NOT TAKE CENVAT OF EXCISE DUTY PAID ON INPUT i.e. steel.
U S Sharma
(Expert)
20 May 2011
if u are manufacturer then u can take cenvat credit on steel and other inputs on clearence of goods to party on payment of cenvat duty.
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