Dear All
We have purchased capital goods on which custom duty has been paid. can it be adjusted with service tax payment which is to be deposited by 31 st march 2011.
please reply it is very urgent
thanks in advance
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Most Urgent - Service Tax Adjustment
Replies (5)
no it can not adjust with service tax ….
Custom duty can not be adjusted with service tax payment. Only service tax and excise duty paid can be adjusted.
thanking you very much
Custom duty levied under sec 3 of Customs Tariff Act shall be allowed as cenvat credit and can be adjusted in payment of service tax.
but CVD is levied in lieu of excise which is an cenvatable duty if the inported goods are capitalized.
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