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Excise Help

EXICSE (Legacy) 1093 views 5 replies

Under Cenvat Credit Rules

Credit Available for  

Sec Edu Cess of Excise and service tax and be for payment of Sec Edu Cess of Excise and service tax 

H Edu Cess of Excise and service tax and be for payment of Sec Edu Cess of Excise and service tax 

but will the credit of Sec Edu Cess utilise for H Edu Cess.??

and Excess Credit Avilable of BED and Service Tax Can utilize for Payment of Sec Edu Cess and H Edu Cess ???

I Know that Credit avlb for  Sec Edu Cess and H Edu Cess can not utilse for  BED and Service Tax Can

Replies (5)

will the credit of Sec Edu Cess utilise for H Edu Cess.??----NO

and Excess Credit Avilable of BED and Service Tax Can utilize for Payment of Sec Edu Cess and H Edu Cess ???-----yes

YES

hi,

As per Proviso to Rule 3(7)(b) of Cenvat Credit Rules 2004.

The cenvat credit of edu cess on excisable goods n taxable services can be utilised either for payment of edu cess on excisable goods or for payment of edu cess on taxable service.

The cenvat credit of SHE cess on excisable goods n taxable services can be utilised either for payment of SHE cess on excisable goods or for payment of SHE cess on taxable service.

Hence, SHE cess cannot be utilised for payment of Edu cess and vice versa.

As there is no restriction for utilisation of BED and Service tax in the said Rules, the same can be utilised for payment of edu cess n SHE cess as well.

Thank you

as all three have diff accounting codes, so 

 

E cess of Excise can be paid in E cess of service tax and vise versa

S&HSE Cess of excise can be paid in S&HSE Cess of service tax and vise versa

BED can be paid in service tax input credit and vise versa

 

but interchange between three is not possible.

BED and ST can be utilized for payment of Edu Cess and S & H edu cess also but Edu Cess can be utilized for payment of Edu Cess only and S & H edu Cess for payment of S & H edu Cess only.


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