Respected Sir,
i m having a query regarding the refund of service tax and excise duty.
if a company is having final product whos sale include export sal and domestic sale which is exempt from duty because of agricultural product and there is another producti.e POWER.
So can we claim refund of excise recievable and service tax recievable of capital goods and input services.
In case of exports, you can claim refund of service tax. But in case of sale of exempted goods or services, you cannot. You also need to reverse the cenvat credit taken for exempted goods or services.
Agreed. with Mr.Prateek Ji
how can we seggregate the expenses related to export sale and exempted goods sale?
For that you hav to maintain separate books of accounts. If they are not maintained, then you have an option to reverse cenvat credit according to Rule 6(3) of the Cenvat credit Rules.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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