Service tax credit
This query is : Resolved
10 January 2013
Hello,
I would like to know can we claim input credit of service tax and excise agst excise of mfg goods.
& if yes how do we account it. Can this be explained with an example.
Thanks & regards
P Dandekar
I would like to know can we claim input credit of service tax and excise agst excise of mfg goods.
& if yes how do we account it. Can this be explained with an example.
Thanks & regards
P Dandekar
11 January 2013
Yes P. Dandekar,
With effect from 10-09-2004 "CENVAT CREDIT" means duty credit on Input and Capital goods and tax credit on Input Services.
Mr. X manufacturing Garments can avail the credit of tax paid on Audit Services by a chartered Accountant for payment of Excise duty on Garments in terms of inclusive parts of Rule 2(l)CCR,2004.
Thanks
With effect from 10-09-2004 "CENVAT CREDIT" means duty credit on Input and Capital goods and tax credit on Input Services.
Mr. X manufacturing Garments can avail the credit of tax paid on Audit Services by a chartered Accountant for payment of Excise duty on Garments in terms of inclusive parts of Rule 2(l)CCR,2004.
Thanks
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