CENVAT CREDIT

There is no other method other than directly allocating the facility themselves.

hi

i am a taxation consultant. i have a client, a pvt. ltd. co. who is a contractor. now i want to know that if any transporter charges services tax on his freight bill, can my client take the credit of this service tax.

In my opinion yes so far the service tax paid on the freight bill pertains to inputes services. It is to be noted that all the freight paid may not be input services. In other words freight incurred for transportation of  finished goods to client is not an input services and conseuently service tax paid on such freight is not eligible for CENVAT credit

In case of  banking company are taken cenven credit

what is treatment for cenven credit

EXAMPLE : COMM  2000

                      EXCHAGE 2000

                      GOVT BUSINESS 2000

                      INTERST                 200000

SERVICE TAX PAID IN THROUGH FOLLOWING ITEMS.

TELEPHONE BILL   200

AMC                               2000

ON RENT                    2000

 WHAT WILL BE SERVICE TAX AND HOW MUCH CREDIT WILL BE AVAIL AND UTILISED.