sir,
i am purchase machinery with excise invoice.
can i cenvat credit this excise amt against service tax payable.
and also i purchase this machinery's parts from other menufacture with excise, can i clame this excise for cenvat credit against service tax?
thanking you
Yes you can claim for CENVAT Credit as per CENVAT Credit Rules 2004
You can adjust cenvat credit against service tax except for payment of GTA. i.e., under reverse charge mechanism.
All above Opinions are Correct.
Addition to CA Sivakumar's opinion...
50% Credit in Current year, rest in the next year.
If you are an SSI unit, 100% credit in this year is available.
In case of parts & accessories, 100% credit can be claimed.
Regards,
Prateek
yes it is availiable 50% current year and 50% next year.
| Originally posted by : CA.B.Sivakumar | ||
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yes. U can avail. 50% in current yr and balance in next year. |
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CAclubindia
