Dear Sir,
Whether excise duty paid on purchase can be utilised as cenvat credit for payment of service tax. please help me
3 Replies
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 06 May 2011
as far as we know, the taxable services does not qualify any exisable input except works contract, where if composition is availed then no input credit,
share the nature of services provided by you to discuss the matter
Sowmya.S.Balan
(Paid Assistant)
(749 Points)
Replied 07 May 2011
dear sir,
we are providing erection service. we are also deal in trading. excise duty is paid on materials purchased for trading
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 07 May 2011
1) erection service comes under works contract (compositon) under service tax and WCT under VAT
2) apart from 1) what else activities you do?
3) Excise duty is not applicable on trading goods, its paid at the point of clearence of manufacture only.
4) under works cotract composition scheme no input credit is allowed on input materials as well as input services, and the compositon scheme allows u to pay 4.12% without input credit in place of 10.30 %
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