Very Very tough questions but very important one , plss help !!!!

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Very Important Query ???? Veryyyyyyyyyyyyyyy Urgent !!!

 

A Steel/Ispat manufacturing Limited company purchased (with Customs & Excise Duty ) a machinery from Germany for their manufacturing purposes.
Then, a separate Computer operated machine also purchased to control & operate the above mentioned machinery.
 Then, An engineer hired from Japan to supervise the above total manufacturing related functions.
Finally a rented accommodation was provided by the company for that foreign engineer.

 

My questions :-
1) Can I claim Cenvat Credit for that machinery purchased  from Germany ??
2) Can I  claim Input VAT Credit for purchase of computer to control the machinery ??
3) Is there any liability for deduct TDS u/s 194J by the Company for payment of fees to Engineer for technical/consultancy charges ???
4) Can i claim depreciation for the above machinary & computer ???
5) A rented accomodation provided & service tax charged , so, can I claim Cenvat Credit also for that service tax paid ????

Plssssssss JUSTIFY WITH REASONS & response as early as possible ..

Thanks..

Replies (1)
  1. CENVAT credit available only on CVD and edu.cess there on (refer Sec.3(1), 3(3) or 3(5) of Customs tariff Act and Rule 3(4) + 3(7)(b) + proviso to rule 3(4) of CCR 2004 )
  2. Yes ITC available on purchase of computer.
  3. Liable to deduct TDS u/s 195 not in Sec.194J because 194J deal with payment to any Resident of India.
  4. Yes, you can claim depreciation on Machinery and computer but exclude the Duty/input VAT which is claimed as credit. (Refer Rule 4(4) of CCR,2004)
  5. Yes service tax paid on Rented accomodation can be claim Cenvat Credit input. Since directly related to business activity (in my opinion)

     


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