kindly provide the latest rules of cenvat on Excise duty paid on cement & Steel, means whether contractor is elgible for avail the cenvat benifit on not and if yes in which scheme it is possible.
11 May 2011
You may go thru the cenvat credit rules. An article in the article section also exists for referecne.
If the contractor is charging the ST on the gross amount then he can avail the credit of steel and cement. However the new rules restrict the credit to 40% in such cases for the main contractor if any.
CAclubindia
