I am a software consultant running a sole proprietorship business. I am registered for service tax as I provide software development & consulting service.
I am buying some office furniture from a factory. The factory is charging me a 14% VAT and a 12.36% Excise Duty on top of the price.
My question is: can I write off any or both of these charges against the service tax that I have to pay to the government?
You can only take the credit of the Excise duty paid on Furniture.
VAT paid on furniture cannot be utilised.
Regards,
Devendra Kulkarni
| Originally posted by : Devendra | ||
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You can only take the credit of the Excise duty paid on Furniture. VAT paid on furniture cannot be utilised. Regards, Devendra Kulkarni |
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Thank you for your expert advise, Mr. Kulkarni.
Regards
Sathyaish
CAclubindia
