Cenvat under sponsorship service

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article assistance
30 Points Posted on 06 December 2012

 

 

Dear Sir,
 
I want to know about some cenvat credit issue as follow, please guide me.
 
If Mr. X, a manufacturer, sponsor a event then service tax will be paid by Mr. X 100%,under reverse charge then can he take that service tax credit against excise on manufacturing.
 
If there is any law governing behind it then please let me about it.
 
Thanking you. 

 

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On 06 December 2012 at 13:58 Report
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CA FINAL Student
458 Points Posted on 06 December 2012
Mr. X can take service tax credit in payment of Excise Duty, the sponsorship service is a input service of Mr. X, you can see Rule 2(I) of CCR, 2004
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On 06 December 2012 at 15:14
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Chartered Accountant
33545 Points Posted on 06 December 2012

Sponsorship shouldbe eligible for credit.

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On 06 December 2012 at 17:03
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CA in service & CS. dipmaj@
2866 Points Posted on 06 December 2012

Just to add, here the service tax is to be paid in cash first by receiver under RCM and then credit can be availed.

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On 06 December 2012 at 17:51
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Assistant Manager
76 Points Posted on 08 December 2012

credit can be taken. however, if any exempted goods are manufactured , such amount so much as it related to the exempted goods have to be forgone.

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On 08 December 2012 at 22:31

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