CENVAT Credit on Capital Goods can be availed for payment of Service Tax by the Service Provider. There are several conditions mentioned in Cenvat Credit Rules, 2004.But, is there a separate restriction in such availement that the service necessarily need to be provided using the said Capital Goods? In other words, can a Service Provider avail the CENVAT Credit on Capital Goods to set off the service tax liability arised in entirely different business, not at all connected with the Capital Goods procured?
Resolving this issue is little bit urgent for me. Help from the learned friends shall be highly appreciated