Cenvat credit

This query is : Resolved

Rakesh Chaudhary (Querist)
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09 January 2013 I am getting service tax on rental income and depositing it to Govt.of India. I am also earning some salary income and Capital gain.
Now, I am paying service tax towards purchasing a new commercial property, position of the property will be later next year (Payment under construction linked plan).

Should I take CENVAT credit of the service tax paid? If Yes, is it 100%, or 50% in this FY and 50% in next FY.

Thanks,
Rakesh Chaudhary

Kaushik Vinod

Kaushik Vinod (Expert)
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10 January 2013 Dear Rakesh Ji,

No CENVAT Credit in terms of Rule 2(l) of CCR,2004 excluding part of the definition.
See Rule 2(l) of CCR,2004 from 01-07-2012.

Thanks