Dear all expert
We purchasing finish product from exemption base area vendor wide notifiction 49/50 /2003 dated 10/6/2003 .we recive that material without excise .we further transfer this to our branch without excise (like trading) .can we take cenvet credit (of input service tax) of that good on which we pay service tax on behalf of transport.
Dear Amit ,
You can't avail cenvat credit asthe goods are purchased for the purpose for trading.
you can't avail cenvat credit.
Only a manufacturer os excisable goods or provider of taxable service can take cenvat credit.
49/50 are exempted units and hence no excise duty is charged,
when no excise is charged, no input credit available to buyers.
Sri Aurobindo Gnostic Centre of Education
New Delhi
CA
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T R SOOD & CO
New Delhi
CA Inter
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