UTILIZATION OF CANVAT CREDIT (OF EXCISE DUTY)
This query is : Resolved
Guest
Guest
(Querist)
24 May 2011
DEAR SIR
WE ARE MANUFACTURING COMPANY
WE RECEIVED CANVAT CREDIT (OF EXCISE DUTY)
ON INPUT MATERIAL
WE ARE ALSO LIABLE TO PAY S.T. SINCE WE
ARE ALSO PROVIDING OUTPUT SERVICE
Q:- WHETHER WE CAN UTILIZE CANVAT CREDIT
OF EXCISE DUTY)FOR PAYMENT OF S.T. ON
OUT PUT SERVICES
KINDLY ASSIST US ON THE ABOVE MENTIONED QUERY.
THANKS IN ADVANCE
THANKS & REGARDS
UJAGAR CHATURVEDI
WE ARE MANUFACTURING COMPANY
WE RECEIVED CANVAT CREDIT (OF EXCISE DUTY)
ON INPUT MATERIAL
WE ARE ALSO LIABLE TO PAY S.T. SINCE WE
ARE ALSO PROVIDING OUTPUT SERVICE
Q:- WHETHER WE CAN UTILIZE CANVAT CREDIT
OF EXCISE DUTY)FOR PAYMENT OF S.T. ON
OUT PUT SERVICES
KINDLY ASSIST US ON THE ABOVE MENTIONED QUERY.
THANKS IN ADVANCE
THANKS & REGARDS
UJAGAR CHATURVEDI
24 May 2011
Yes You can provided that as per rule 2(k) of cenvat credit rule "all goods used in the factory by the manufacturer of the final product or all goods used for providing any output services.
Guest
Guest
(Querist)
24 May 2011
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THANKS
IIII
THANKS
U S Sharma
(Expert)
25 May 2011
There is no bar to use the cenvat credit on inputs towards payment of service tax.
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