Whether a Promoter can avail cenvat on Material?

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Accounts Officer
352 Points Joined September 2007

Respected All Professionals,

I've some query regarding CENVAT credit on materials. 

My present employer is a promoter and its prime business is developing new townships, flats and to sell various parties.  For developing the same, can we avail cenvat credit on materials like cement, steel, sanitary wire, pipes etc. which is a major part for constructing of the same.  In case any capital goods purchase, can we also take cenvat on those capital goods, please clarify. 

Please give suitable suggestion with case law, if possible.  my e-mail id is bivas_kumar @ yahoo.com

Bivas Nag

Mobile:098309-96667

 

 

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On 02 February 2011 at 16:05 Report
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Learner
3134 Points Joined September 2009

 

Input credit allowed of those services in business which is used for providing outward service.

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On 02 February 2011 at 16:41
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Student
27 Points Joined August 2010

Dear,

if ur employer is providing any service on which he is charging  service tax(output tax) then he can avil benefit of input tax paid on services availed by him  DURING THE COURSE OF HIS BUSINESS.

but as info. given by u he sell new townships, flats and to sell various parties that no part in this business seen to be service provided so he can not avail cenvat of service tax paid in developing the same.

 


thanks & regards

DIVYANG GUPTA

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On 02 February 2011 at 19:42


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