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Sevice tax credit payment adjustment against cvd

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(Querist)
23 July 2013 we are in textile weaving process. Excise is not applicable to us. We are importing Yarn and paying custom duty. I would like to know that can we get in put credit of CVD of import of yarn against our service tax payment liability ?
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Mihir Doshi

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Mihir Doshi (Expert)
23 July 2013 CVD on Import is equal to excise duty levied. So CVD can be adjusted against the Service Tax Liability.

Make sure you are honouring other rules like Cenvat Credit Rules and other Excise Rules before adjusting Service Tax liability.

Thanks
Mihir doshi
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