ST CENVAT Credit

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Anuj (Querist)
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19 September 2008 Dear All,
I m in Service providing Company (providing taxable services only) & wants the amount of CENVAT credit by following figures:-

In Aug. month I have received ST amount = 2000000
ST receivable = 5000000
CENVAT on capital goods = 40000

Plz tell me for how much amount i can avail ST credit and how much amount i will have to pay. tell me rule no. if possible.

Thanks,
Anuj

Aman Mirza

Aman Mirza (Expert)
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19 September 2008 On capital goods you can claim cenvat credit only 50% in first year and balance 50% next financial year.

Then S.T always paid to government based on receipts of S.T and not the charge to client.