a)A co.is a manufacturer cum service provider.It gets commision income on selling of yarn as a dealer from supplier company.It also mfg.textile products on which it pays excise duty.It is regd. under excise and ser.tax laws.As a manufacturer it avails cenvat credit on (i)repairs& maint.of machines,(ii)job work.The company pays output sert.tax on comm.income.As we know that after intoduction of c.credit rules,2004,a manufacturer can avail & utilse c.credit against excise liability.But my query is whether the above company can avail cenvat credit on "input services"(recd.as a manufacturer)against meeting s.tax libility on comm.income.
b)It is said that with c.credit rules,2004 ,across the
board sectorial credit can be enjoyed by mfg. cum
service provider.How we justify the same?
c))What are restrictions for a manufucturer cum Service
tax provider in C.Credit rules,2004?(i context of
input& input services credit)
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cenvat credit for mfg.cum service provider
Replies (2)
hi
the cenvat credit available on the services can be used to set off the liability of manufacturing also....the only restrictions are that the asessee shud be registered in both and the final service or the good manufactured is not exempt from tax if that so then the input credit is not available to the assessee...
i dint got ur 2 ques
the cenvat credit available on the services can be used to set off the liability of manufacturing also....the only restrictions are that the asessee shud be registered in both and the final service or the good manufactured is not exempt from tax if that so then the input credit is not available to the assessee...
i dint got ur 2 ques
Dear sir
[color=blue]Q But my query is whether the above company can avail cenvat credit on "input services"(recd.as a manufacturer)against meeting s.tax libility on comm.income.[/color]
:) For availing cenvat credit by the service provider , the input service should have been used by the service provider of taxable service for providing an out putservice
REf Sec 2(L)(ii) cevat credit rule 2004.
[color=blue]Q But my query is whether the above company can avail cenvat credit on "input services"(recd.as a manufacturer)against meeting s.tax libility on comm.income.[/color]
:) For availing cenvat credit by the service provider , the input service should have been used by the service provider of taxable service for providing an out putservice
REf Sec 2(L)(ii) cevat credit rule 2004.
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