Dear sir
Availment of cenvat credit before commencement of bussiness or commercial production wheather eligible or not ?
inrespect of the following
1. Cenvat credit on input services
3. Excise duty / Service tax on capital goods
Thanks
Dear sir
Availment of cenvat credit before commencement of bussiness or commercial production wheather eligible or not ?
inrespect of the following
1. Cenvat credit on input services
3. Excise duty / Service tax on capital goods
Thanks
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 12 August 2011
Cenvat credit of excise duty on capital goods and inputs purchased prior to commencement of production is eligible. But input services used in relation to setting up does not qualify for cenvat credit.
khushbu darak(CWA)
(H & A team(indirect taxes))
(403 Points)
Replied 12 August 2011
Ya. I agree with Nair Sir
Hitesh Kaila
(TAX CONSULTANT)
(270 Points)
Replied 12 August 2011
Availment of cenvat credit before commencement of bussiness or commercial production wheather eligible or not ?
inrespect of the following :
1. Cenvat credit on input services
Ans : Input services used in before settinng up not elligible for cenvat credit.
2. Excise duty / Service tax on capital goods
Ans : Cenvat credit of excise duty on capital goods and inputs before commencement of commercial production are elligible.
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